Britain's Wealth Just Collapsed | IEA Podcast

In this Institute of Economic Affairs podcast, Director of Communications Callum Price is joined by Director General Lord Hannan and Editorial Director Dr Kristian Niemietz for the weekly round up of the week in economics. The conversation covers three topics: Andy Burnham’s speech on devolution and decentralisation, a new report showing Britain has suffered the biggest fall in household wealth in the rich world, and a report on London’s housebuilding crisis.On devolution, Hannan and Niemietz discuss why Britain remains one of the most centralised states in Europe, and what would need to change for genuine decentralisation to work, including a Swiss style model where local areas raise and are responsible for their own spending. They then turn to the fall in British household wealth over the past five years, arguing that the decline is largely a correction following the money printing and house price rises seen during the pandemic.The discussion closes with an examination of London’s housebuilding crisis, drawing on a new report from other think tanks showing housing starts in the capital falling far short of government targets. Hannan and Niemietz set out why this makes London and the country as a whole poorer, and discuss practical fixes including lifting height restrictions near transport links and building on underused sites such as those around Canary Wharf.The Institute of Economic Affairs is a registered educational charity. It does not endorse or give support for any political party in the UK or elsewhere. Our mission is to improve understanding of the fundamental institutions of a free society by analysing and expounding the role of markets in solving economic and social problems.The views represented here are those of the speakers alone, not those of the Institute, its Managing Trustees, Academic Advisory Council members or senior staff.Thumbnail image of Andy Burnham by [photographer name], licensed under CC BY 2.0 (https://creativecommons.org/licenses/by/2.0/), cropped from the original. This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit economicaffairs.co.uk/subscribe