Initiative for Free Trade

Initiative for Free Trade
Abbreviation IFT
Formation 2017 (2017)
Type International trade think tank
Headquarters London, United Kingdom
President
 Daniel Hannan
Website www.ifreetrade.org

The Initiative for Free Trade (IFT) is a private, not-for-profit, research foundation based in central London. The initiative aims to make an intellectual and moral case for free trade and works with academics, political figures and other think tanks in distributing research and articles as well hosting trade events.[1] Chuka Umunna has described the IFT as "fanatical hard Brexit-supporting ideologues".[2]

The IFT was founded by Daniel Hannan, MEP for South East England,[1] with the intention of becoming the United Kingdom's first (to date, only) think tank specialising exclusively in trade policy and the economics of trade. In September 2017, the IFT was launched in the Map Room of the Foreign and Commonwealth Office by Boris Johnson MP and Liam Fox MP.[3][4] The IFT was not charged for the use of the room—this was permitted under the relevant official codes at the time.[2]

History

The creation of the Department for International Trade (DIT) in July 2016 signalled the UK Government’s commitment to pursuing an independent trade policy for the first time since 1875. IFT aims to fill the corresponding gap in UK-based research and expertise on trade issues, in order to contribute to a more informed government, legislature, business community and general public.

The initiative was launched in the Map Room at the Foreign and Commonwealth Office by Boris Johnson, the Secretary of State for Foreign and Commonwealth Affairs, and Liam Fox, Secretary of State for International Trade, in September 2017. In October 2017 IFT hosted its first event—the Global Trade Summit (London)—and has supported and participated in the Conservatives International conferences in Miami and Kampala in 2017, as well as La Convención Azul in Buenos Aires.

The IFT initially called itself Institute for Free Trade,[5] but changed its name to Initiative for Free Trade after it emerged that permission to use the title "institute", which is protected bt law had not been granted by Companies House and the Business Secretary.[6][7]

IFT’s official aims are to “recapture the moral case for open commerce” and promote free trade by; bringing together businesses to assess the impact of trade barriers and their removal; and encouraging policymakers and lawmakers to support trade liberalisation. As well as holding events with high-profile speakers, IFT produces and distributes research aimed at specific audiences, from short explainer videos to long academic reports. IFT works closely with, though independently of, the UK’s Department for International Trade. Chris Bryant said that "the IFT may seem like a fringe group of wacky fanatics, but the reality is they are highly influential and are pushing a dangerous agenda."[2]

Publications

  • ‘An “Ideal” US-UK Free Trade Arrangement’, 2017
  • ‘Boosting UK-East Africa Trade’, 2017
  • ‘The Left-Wing Case for Free Trade’, 2017

Notable people

International advisory board[1]

Executive board[1]

  • Chairman: Jon Moynihan (chairman and Co-Principal of Ipex Capital)
  • Depute chairman: Alan Halsall (Former joint chairman of Businesses for Britain)
  • Digby, Lord Jones of Birmingham Kb, Founding director of Digby Jones LLP, former Minister of State for Trade & Investment, former Director-General of the CBI
  • Dame Helena Morrissey, DBE, Head of Personal Investing at Legal & General Investment Management
  • Brian Kingham, Entrepreneur, investor and founding chairman of Reliance Security Group
  • Jim Mellon, Entrepreneur, investor and chairman of Burnbrae
  • Max Rangeley, Manager of the Cobden Centre

References

  1. 1 2 3 4 "IFT". IFT. Retrieved 2018-01-30.
  2. 1 2 3 Boris Johnson under fire for waiving £6,000 fee for hard Brexit event at Foreign Office. Secret emails show Government ethics chief raised concerns about launch of IFT think tank at the Foreign Office. Lizzy Buchan, political correspondent. Independent. 22.2.2018. https://www.independent.co.uk/news/uk/politics/boris-johnson-fee-hard-brexit-event-foreign-office-ift-daniel-hannan-a8223971.html
  3. ↑ "Boris Johnson launches the Institute for Free Trade | IFT". IFT. Retrieved 2018-01-30.
  4. ↑ Sam Coates, Hannah McGrath (2017-09-27). "Boris Johnson hosts hard Brexit lobby group". The Times. ISSN 0140-0460. Retrieved 2018-02-02.
  5. ↑ "Institute for Free Trade (IFT)". 21 September 2017. Retrieved 2 February 2018.
  6. ↑ Savage, Michael (16 December 2017). "Brexit thinktank in dispute over use of 'institute' in title". the Guardian. Retrieved 2 February 2018.
  7. ↑ Walker, Peter; Asthana, Anushka (18 December 2017). "Brexit thinktank removes 'institute' from its name". the Guardian. Retrieved 2 February 2018.
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