Phil Mullan delivers the Battle 2017 Lecture which explores the sluggish state of the Western economies and how we can create a better future. Low interest rates, corporate welfare and current regulatory practices foster corporate dependency and prolong economic stagnation. Unproductive, unprofitable firms are kept on life support when they need to make way for more productive, innovative ones. He argues that we need a great political and cultural change to deliver the radical economic restructuring that could lay the foundations for the next industrial revolution. The chair is Angus Kennedy.
Link to video here
Thursday 11 May 2017, at The Leeds Salon
Link to video here
‘Brexit Isn’t A Threat To The Economy, Doom-Mongering Is’
28 July 2017, Spiked Podcast
Phil Mullan on how Brexit could spark an economic renaissance.
Link to podcast here
Book launch: Creative destruction – How to start an economic renaissance, London
3 April 2017, The Building Centre, Store Street, London WC1
Link to audio recording here
In this special Bookshop Barnie, Phil Mullan discuss his latest book, Creative Destruction: How to Start an Economic Renaissance, with Austin Williams, director of the Future Cities Project.
“While governments talk of rebalancing the economy, Mullan talks about a fourth industrial revolution; but a revolution that doesn’t prioritise holding onto jobs, but “lets the low-productivity parts of the economy go”. Discuss.
As Mullan puts it, we have “a zombie economy that is being propped up to ensure the semblance of life.” So is it time to turn off the life support, or continue CPR?”
Organised in association with The Building Centre and the IoI Economy Forum.
What’s next for the economy post-Brexit?
1 November 2016
British Educational Suppliers Association (BESA) Annual Business Insight Day panel
Link to video: https://www.youtube.com/watch?v=KOCW18GZh4o
Andrew Smith, Chief Economic Adviser for the Industry Forum, author and economist Phil Mullan, Executive Director of the Adam Smith Institute Sam Bowman and Rosa Wilkinson, a director at the Department for International Trade discuss what’s next for the economy post-Brexit. Chaired by BESA director Patrick Hayes.
‘8 years after 2008’
24 February 2016
Lord Meghnad Desai and Phil Mullan – Brighton Salon debate
Link to video https://www.youtube.com/watch?v=iC4ercVJIa0
8 Years after the Great Recession are we any closer to an economic recovery? This was the question debated by the Brighton Salon on the 24th of February at the Friends Meeting house.
The UK economy after Brexit: sink or swim?
23 October 2016
Institute of Ideas festival, Barbican
The vote to leave the European Union stunned the world’s economic experts, politicians and economic officials. Voters were told that leaving the EU would hit the UK economy hard, with the only question being over what future trade arrangements might be made with the EU. But when it comes to future prosperity, is there too much focus on trade relationships? Should we really be worrying about problems closer to home? In this incredibly engaging debate filmed at the Battle of Ideas, speakers and audience share vital insights. A rare chance to hear the serious discussion politicians have avoided.
The speakers include: Daniel Moylan, former deputy chairman of Transport for London, Conservative Councillor, co-chairman, Urban Design London; Phil Mullan, economist and business manager, author, Creative Destruction: How to start an economic renaissance; Merryn Somerset Webb, Editor in Chief, MoneyWeek; Andreas Wesemann, partner, Ashcombe Advisers LLP, author, The Abolition of Deposit Insurance. The chair is Rob Lyons, science and technology director, Institute of Ideas, convenor, IoI Economy Forum.
Can we manufacture a new economy?
17 October 2015
Institute of Ideas festival, Barbican
While the UK economy has recovered from the economic crisis, few would argue that the recovery is built on strong foundations. Wages are only just starting to rise in real terms after a number of years of decline. Economic output remains weak compared to previous recoveries, and the state is still spending almost £90 billion a year more than it receives in tax. A particular concern for economists is low productivity – the amount of wealth produced by each worker – which is well below that of other countries and 15 per cent below where it would have been if pre-crisis trends had continued.
Yet across the main political parties there seems little vision of how the UK economy could look different in five, 10 or 20 years’ time. The chancellor of the exchequer, George Osborne, has made much play about the creation of a ‘northern powerhouse’. The HS2 railway has cross-party support, but many are sceptical about its economic potential. Beyond this, there seems little sense of how the economy could be transformed. Indeed, many new industries with the potential to revolutionise the UK economy – like fracking, nuclear power and biotech – have faced considerable resistance.
In 2014, the Wright Report, an independent report commissioned by the Labour Party, called for ‘a modern, active industrial policy’ that was not about ‘government “picking winners”, investing in large companies, or trying to plan the economy’ but focused on ‘improving the environment in which companies operate, recognising the positive influence that government can have, and working together to tackle the challenges’. These included barriers to investment, the overall load of taxation and the lack of skilled workers, all still serious problems. That said, there are causes for optimism. In certain sectors, productivity has risen sharply in recent years. Productivity in car manufacturing is high, while in aircraft engine manufacturing and financial services, the UK is a world leader. Moreover, the UK’s universities offer excellent capacity for research and development.
If UK businesses can be excellent in some arenas, why is the UK apparently so unproductive overall? What are the barriers to a new and innovative economy? Why is new business investment so low? Do we need a bout of creative destruction, making painful choices about leaving some areas of economic activity behind, in order to allow new sources of wealth creation to flourish?
Frances Coppola, associate editor, Pieria, contributor to Nesta’s Our Work Here is Done, exploring the frontiers of robot technology
Katie Evans, economist, Social Market Foundation
Phil Mullan, economist; director, Epping Consulting business advice; author, The Imaginary Time Bomb
Bauke Schram, business reporter, International Business Times UK
Mike Wright, executive director, Jaguar Land Rover
Chair Rob Lyons, science and technology director, Institute of Ideas