Foreward - Of Fiscal Straitjackets and Flexibility

Jagjit Chadha ()

National Institute UK Economic Outlook, 2024, issue 16, 3-4

Abstract: Allow the National Institute of Economic and Social Research to let you into a secret of Public Policy. The central problem of fiscal policy is to write down a programme that allows a socially optimal response – code for flexibility – to emerging problems and past failures, which have been substantive, and yet be able to convince important stakeholders that our medium term fiscal plan does not hamper future flexibility. This is the problem with which all Chancelors have struggled.

Date: 2024
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