Thread by @jagjit_chadha, This needs to be the year when we address the #fiscalframework. Both [...]

This needs to be the year when we address the #fiscalframework. Both @hmtreasury and @OBR_UK are gearing up for re-examination. Our report on how to reset fiscal policy-making is out tomorrow. First take a look at @NIESRorg initial shot last spring: 1/n https://voxeu.org/content/time-uk-s-budgetarians-make-way-some-proper-fiscal-policy

Time for the UK’s ‘budgetarians’ to make way for some proper fiscal

As the Chancellor of the Exchequer Rishi Sunak mulls over the contents of his first Budget, which he will unveil on Wednesday, he should take a pause and think whether this would be a good

https://voxeu.org/content/time-uk-s-budgetarians-make-way-some-proper-fiscal-policy

There is an excellent preview of our proposals by @dsmitheconomics in @thetimes today. Thank you. 2/n

@ST_Business @ProfAndrewScott @AdrianPabst1 @hande_kucuk1 @NIESRorg https://www.thetimes.co.uk/article/the-covid-debt-isnt-going-away-we-have-to-live-with-it-kk60v0z0s

The Covid debt isn’t going away. We have to live with it

Cast your mind back a couple of years, if you can, to the spring of 2019. At that time, most of the indicators on Britain’s public finances were flashing green. The budget deficit, which for the

https://www.thetimes.co.uk/article/the-covid-debt-isnt-going-away-we-have-to-live-with-it-kk60v0z0s

A more grown up fiscal process involving assessment of alternate policies and their impact over time and across the country will build public trust in political decision-making. Leaking does not. Thanks Simon Neville @PA. 3/n https://www.standard.co.uk/news/uk/rishi-sunak-government-governments-politicians-budget-b931259.html

Serial leaking of spending policies risks eroding public trust, think tank warns

A new report by the National Institute of Economic and Social Research says the Government should implement formal timetables for major fiscal events.

https://www.standard.co.uk/news/uk/rishi-sunak-government-governments-politicians-budget-b931259.html

We must move away from the lack of transparency and introduce more accountability for fiscal decisions. The framework must include independent analysis of key risks and judgements as well as formal evaluation of policy outcomes. Thanks @ChrisGiles_ 4/n https://www.ft.com/content/68804db6-11a1-4d6e-97b2-ba83cb476e43

Covid response pushes UK government borrowing to highest level since second world war

Borrowing rose from £57bn to over £303bn in 2020/21

https://www.ft.com/content/68804db6-11a1-4d6e-97b2-ba83cb476e43

The time is right. "A year of record-breaking importance for fiscal policy makes a powerful case for such an overhaul." Thanks @BenChu_ 5/n https://www.independent.co.uk/news/business/comment/pandemic-borrowing-deficit-government-b1836569.html

Why £300bn of government borrowing in the pandemic has been money well spent

The economics profession has been united in the view that it was necessary for the government to allow the deficit to balloon in the extraordinary context of the past year, says Ben Chu

https://www.independent.co.uk/news/business/comment/pandemic-borrowing-deficit-government-b1836569.html

Do join us Mon 26 April at 2pm for the report launch. n/n

@NuffieldFound @ESRC @CFMUK @NuCampEconomics @BIS_org @MMF_research @TPIProductivity @BennettInst @hmtreasury @OBR_UK @R2Rsquared @bart_ark @OMFIFfoundation @janetbhenry @LiamHalligan

#esrciaa https://www.eventbrite.co.uk/e/future-fiscal-frameworks-tickets-148754379353

Future Fiscal Frameworks

A Nuffield Foundation funded project on understanding and confronting uncertainty

https://www.eventbrite.co.uk/e/future-fiscal-frameworks-tickets-148754379353

You can follow @jagjit_chadha.

Tip: mention @twtextapp on a Twitter thread with the keyword “unroll” to get a link to it.

Latest Threads Unrolled: