The approaches of the political parties to aspects of the ‘cost of living crisis’ seek to treat the symptoms of problems, rather than addressing the underlying causes. In particular, parties have advocated or implemented policies which completely ignore how existing government policies lead...

Price controls across many sectors are currently being hotly debated. New controls in the housing market, more onerous minimum wages, minimum prices for alcohol, and freezes on energy prices are very high up the agenda of most politicians at the moment. Even without any further controls, wages,...

Price controls damage markets by preventing the supply of products rising to meet demand. They can cause significant welfare losses, a deterioration in product quality, a reduction in investment and, in the long run, higher prices. Price controls also encourage black markets and illegal economic...