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P.ublished 12th October 2023
business
Tom Clougherty Appointed Head Of The Institute Of Economic Affairs
Tom Clougherty
Photo: Centre for Policy Studies
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Clougherty, 38, is currently Research Director and Head of Tax at the centre-right think tank, the Centre for Policy Studies, a position he has held since April 2018.
Commenting on today's GDP data showing that the UK economy grew by 0.2 per cent in August, Julian Jessop, Economics Fellow at the free market think tank, the Institute of Economic Affairs, said:
"The latest GDP data show that the UK economy is flipping between growth and contraction on an almost monthly basis.
"The economy will now probably have to grow by 0.2 per cent or more in September to avoid the first of two successive quarters of falling output that would mark a technical ‘recession’.
"At the very least, growth is currently weaker than the Bank of England had been expecting, making another interest rate hike even less likely."
Previously, he was also the Executive Director of the Adam Smith Institute from 2009 until 2012 and has held roles at the Reason Foundation and Cato Institute in the United States between 2012 and 2018. Clougherty brings decades of experience in strategic thinking, think tank leadership and policy research as well as a deep commitment to advancing the cause of free markets and individual liberty."The latest GDP data show that the UK economy is flipping between growth and contraction on an almost monthly basis.
"The economy will now probably have to grow by 0.2 per cent or more in September to avoid the first of two successive quarters of falling output that would mark a technical ‘recession’.
"At the very least, growth is currently weaker than the Bank of England had been expecting, making another interest rate hike even less likely."
Clougherty replaces outgoing Director General Mark Littlewood, who will become Senior Economics Fellow. Littlewood steps down after a distinguished 14-year tenure as Director-General of the IEA, leading a period of remarkable rejuvenation and growth. Clougherty will assume the role in December.
Incoming Executive Director Tom Clougherty said:
"I am delighted to have been chosen as the IEA's next Executive Director and Ralph Harris Fellow. The IEA has been a source of inspiration and enlightenment throughout my career, so it is a huge privilege to be asked to lead it into a new era. There is no job in the world I would rather do.
"Mark Littlewood is a peerless communicator of free market ideas and has been a brilliant Director General for the past 14 years. It is an honour to follow in his footsteps, as well as those of his predecessors – not least the late Lord Harris of High Cross, without whose extraordinary efforts Britain might look very different today.
"Times have changed since the IEA was founded almost seven decades ago, but its educational and research mission is as vital as ever. There will be big challenges to classical liberal ideas in the years ahead and it is up to us to meet them head-on: by advancing public understanding of economics and by establishing the crucial role of markets in solving the very real problems we face. I can't wait to get started."
"I am delighted to have been chosen as the IEA's next Executive Director and Ralph Harris Fellow. The IEA has been a source of inspiration and enlightenment throughout my career, so it is a huge privilege to be asked to lead it into a new era. There is no job in the world I would rather do.
"Mark Littlewood is a peerless communicator of free market ideas and has been a brilliant Director General for the past 14 years. It is an honour to follow in his footsteps, as well as those of his predecessors – not least the late Lord Harris of High Cross, without whose extraordinary efforts Britain might look very different today.
"Times have changed since the IEA was founded almost seven decades ago, but its educational and research mission is as vital as ever. There will be big challenges to classical liberal ideas in the years ahead and it is up to us to meet them head-on: by advancing public understanding of economics and by establishing the crucial role of markets in solving the very real problems we face. I can't wait to get started."
Chairman of the Board of Trustees Linda Edwards said:
“I am absolutely thrilled to welcome Tom Clougherty as the IEA's new Executive Director and Ralph Harris Fellow. We also extend genuine thanks to our truly outstanding group of applicants. Their passion for free markets and free people shone brightly. Tom's seventeen years of think tank experience, his unique combination of talents, and his passion for the IEA make him a perfect fit.
"The UK faces fresh challenges. There is a growing doubt in the power of free markets and the benefits of smaller government. But we believe that reduced government interference in people’s lives leads to better results for everyone. With Tom at the helm, the IEA will champion these values more strongly than ever. We'll work hard to show how free markets and individual choices drive prosperity.
“I would like to thank Mark Littlewood for his outstanding work as Director General these past fourteen years. He has amplified the IEA's voice, and we're glad you're remaining as the IEA’s Senior Economics Fellow. I know Mark will support Tom’s leadership and his efforts to shape a future where the IEA’s principles shine even brighter."
“I am absolutely thrilled to welcome Tom Clougherty as the IEA's new Executive Director and Ralph Harris Fellow. We also extend genuine thanks to our truly outstanding group of applicants. Their passion for free markets and free people shone brightly. Tom's seventeen years of think tank experience, his unique combination of talents, and his passion for the IEA make him a perfect fit.
"The UK faces fresh challenges. There is a growing doubt in the power of free markets and the benefits of smaller government. But we believe that reduced government interference in people’s lives leads to better results for everyone. With Tom at the helm, the IEA will champion these values more strongly than ever. We'll work hard to show how free markets and individual choices drive prosperity.
“I would like to thank Mark Littlewood for his outstanding work as Director General these past fourteen years. He has amplified the IEA's voice, and we're glad you're remaining as the IEA’s Senior Economics Fellow. I know Mark will support Tom’s leadership and his efforts to shape a future where the IEA’s principles shine even brighter."