In this Institute of Economic Affairs podcast, IEA Director Daniel Hannan is joined by Kristian Niemietz, IEA Head of Political Economy, and Maeve Halligan, IEA Spokesperson, who has just joined the Institute. They discuss intergenerational fairness, examining a report from the IPPR which proposes taxing older homeowners more heavily to help younger people, and the collapse in graduate job opportunities, with entry-level roles falling from 55,000 in 2017 to around 8,000 today.
The conversation turns to the effect of minimum wage increases and higher employer National Insurance on youth unemployment, which has risen sharply since 2022. They also discuss the expansion of university education, arguing that too many young people are funnelled into degrees rather than apprenticeships or technical education, and consider the Government’s proposed mansion tax, including the prospect of tax inspectors assessing property values above £2 million. The discussion also covers why the UK’s tax burden, now around 40% of GDP, is at its highest level since 1947.
The episode closes with a look at Iceland’s referendum on reopening negotiations to join the EU, weighing up what Iceland stands to gain or lose on fisheries, agriculture and trade if it were to give up its current arrangement within the European Economic Area.
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