Deficit reduction

Beyond austerity: the bad news

Austerity might hurt but it’s not the only problem facing the public sector. Radical solutions will be needed to drive down costs in the years to come Read more

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A false consensus on debt

The Labour Party has signed up to the coalition’s public spending limits for 2015/16. But this is based on a false consensus on the meaning of debt, deficits and the UK’s monetary position Read more

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Deficit strategy? The cheque’s in the post

Today’s public finance figures show that public sector net borrowing is a bit less than forecast. But in reality the chancellor’s deficit reduction plan has stalled and he can’t see a way out Read more

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Autumn Statement: the wrong rules

The chancellor is likely to fail his fiscal targets when he announces the Autumn Statement on Wednesday. He needs to radically rethink the way the debt rules are designed and utilised if they are to endure for any length of time Read more

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Counting the cost of capital cuts

Cutting infrastructure spending is not a long-term solution to our financial problems. It simply replaces a visible financial deficit with a hidden maintenance backlog Read more

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