How Brown could frame his fiscal stability pact
Article Abstract:
UK Chancellor Gordon Brown should realize that there may be advantages to be gained from making changes to fiscal policy, particularly in the light of the Stability Pact. This states that European Union member states will aim to have a balanced budget or a budget surplus after European monetary union. However, Brown's criteria for budget discipline are in fact better than those contained in the Stability Pact. He could therefore simply restate his targets for a balanced budget in each Budget speech. Taking this approach still leaves the budgetary process vulnerable to political manipulation.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1997
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How Brown has opened the budget debate
Article Abstract:
UK Chancellor Gordon Brown's Green Budget in Nov 1997 signified important changes in fiscal policy. The government will from now on issue a provisional Budget each Nov, followed by a full Budget each Apr. This will ensure that open public discussion can take place, as long as the Treasury is willing to publish the necessary documents. Brown has already made significant progress compared with previous governments by issuing a detailed analysis of medium-term growth forecasts, the state of the labour market and the gap between output and consumption.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1997
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Tax cuts are not a simple solution for Japan
Article Abstract:
The US believes that the Japanese government should ease fiscal policy further in order to boost domestic demand. In contrast, other observers feel that fiscal stimulus is not sufficient, and argue that Japan's central bank could have to print more money. There is a strong argument in favour of the Japanese government making one last attempt to deal with the country's economic problems through tax cuts. These must be seen to be permanent and must be much more extensive than anything considered so far if they are to be really effective.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1998
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