New post: October Budget 5. The UK’s Fiscal rules: one good and one bad mainlymacro.blogspot.com/2024/10/octo... The falling debt to GDP rule is not fit for any purpose except keeping economic growth down. It is a rule designed not for economists or the markets but for the political commentariat
On 30th October Rachel Reeves will be setting out her first budget, rather than responding to someone else’s decisions. She will be leadin...
This is great - I couldn’t agree more with your conclusions. But if mediamacro prevails (and I see no reason from Labour’s utterances so far that it won’t), can you think of a second rule that sounds fiscally prudent while also encouraging investment?This is great - I couldn’t agree more with your conclusions. But if mediamacro prevails (and I see no reason from Labour’s utterances so far that it won’t), can you think of a second rule that sounds fiscally prudent while also encouraging investment?