The 1997 election: can an improving economy secure a fifth Tory term
Article Abstract:
The Conservative government government in the UK is preparing for the final stages of the parliamentary term. A recent Gallup poll showed Labour's lead at 59% compared to 22% for the Tories, which would give the Tories only 45 MPs. However Gallup has altered its methodology, but the Labour lead was still 18 points over the Tories. Government popularity is extremely low, despite the fact that the general economic news is good, with falling unemployment and inflation at a low level. It appears the government lost its traditional reputation for competent economic management after the 1992 election when the country left the ERM and taxes increased.
Publication Name: Economic Outlook
Subject: Economics
ISSN: 0140-489X
Year: 1997
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Prudence and pragmatism in the fiscal stance
Article Abstract:
It is important to consider the purpose of fiscal policy in the UK now that short-term demand management has been excluded. Attention must be given to the correct relative taxes to achieve microeconomic targets, as well as to the correct level of taxation required to create the right path for government debt and to the correct levels of spending on publicly-provided goods and services. The government places strong emphasis on prudence as an element of fiscal policy, appearing to fear a rise in debt more than a reduction. The outcome of government policy is to raise taxes and to use the money raised to repay the national debt.
Publication Name: Economic Outlook
Subject: Economics
ISSN: 0140-489X
Year: 2000
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United Kingdom
Article Abstract:
UK gross domestic product is forecast to rise by 2.8% in 1995 compared with 3.9% for 1994, and 2.7% forecast for 1996. Personal consumption fell by 0.1% for 1st qtr 1995. Income from employment has grown slowly and taxes have risen, though dividend payments have been buoyant. Corporate investment fell by 1.7% in 1st qtr 1995. Tax cuts are likely in the 1995 budget for political reasons and this could be rationalised by weak consumer spending. Lower tax cuts will mean that interest rates will not have to rise so much and this will mean growth will come from exports rather than consumption.
Publication Name: Economic Outlook
Subject: Economics
ISSN: 0140-489X
Year: 1995
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