Dr Budd's policy options for the next Chancellor

Article Abstract:

The next UK government will have to take firm action if it is to prevent rising inflation from accompanying falling unemployment, according to Dr Alan Budd, chief economic adviser to the UK government. If the next chancellor manages to achieve both falling unemployment and inflation, then GDP growth will be strong and it could be possible to reduce taxes or increase public expenditure. However, if this is not achieved, then it will not be possible to reduce taxes or boost public spending.

Beliefs, opinions and attitudes, Budd, Alan

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Chancellor should not snatch at base rate cuts

Article Abstract:

Many observers feel that the UK has generally not reacted quickly enough to changes in the economic climate, and has then extended interest rate changes over far too long a period. Undertaking too little at a late stage has probably been responsible for the economic instability which the UK has been experiencing over recent years. It is now time for the government to consider acting more decisively and earlier in response to changes in the economic climate.

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