George Monbiot raised the all-important question of who funds the Institute of Economic Affairs (IEA) in a spirited debate with Reem Ibrahim on Politics Live.
Monbiot drew attention to Ibrahim’s association with the IEA, alleging that the organisation received funding from “oil companies” and “tobacco companies.”
It comes as the pair debated the correlation between economic growth, regulation, and overall human well-being in a tense war of words.
Monbiot argued that Gross Domestic Product (GDP) should not be synonymous with “actual human well-being” and criticised the adverse environmental impacts resulting from the relentless pursuit of growth.
Ibrahim, representing the IEA, countered Monbiot’s stance by emphasising the importance of a free-market approach to trade between businesses. She expressed her belief that growth is a positive outcome of enabling businesses and individuals to engage in trade. However, Monbiot interrupted, alleging that the IEA is funded by “oligarchs and corporations,” particularly oil and tobacco companies.
“Of course, you don’t care about the natural world because you’re from the Institute of Economic Affairs, which is funded by oligarchs and corporations.”
The debate intensified as Monbiot accused the IEA of refusing to disclose its funding sources, insinuating a connection to “dark lobbyists.” Ibrahim dismissed this as a “conspiracy theory,” asserting her personal commitment to individual liberty, free markets, and limited government intervention.
Amidst the heated exchange, Monbiot suggested a pattern among staff from “dark money think tanks.” The host intervened, steering the conversation back on track.
The IEA, a prominent London-based free-market think tank, has openly criticised the government’s net zero targets and advocated for the UK’s exploitation of North Sea fossil gas and fracking. Research by the Conservative Transparency project revealed major donors to the IEA, including Exxon Mobil, via the American Friends of the Institute of Economic Affairs.
The IEA asserts its independence from political affiliations, claiming to be funded solely by voluntary donations from individuals, companies, and foundations supporting its work. They emphasise no involvement in government-funded projects and no acceptance of government money.
You can watch the exchange below:
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