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An Assessment of Fiscal Rules in the United Kingdom (Electronic book text)
An Assessment of Fiscal Rules in the United Kingdom (Electronic book text): Michael Kell
An Assessment of Fiscal Rules in the United Kingdom (Electronic book text): Michael Kell

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An Assessment of Fiscal Rules in the United Kingdom (Electronic book text)

Michael Kell

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The paper assesses the United Kingdom's golden rule and debt rule against ideal characteristics of fiscal rules. It concludes that they are clearly defined; transparent in institutional arrangements and measurement; adequate to ensure sustainability; and strike a good balance between flexibility and enforceability. The rules could be strengthened by clarifying the benchmark embodied in the debt rule and the modalities of the value for money criterion for investment. Overall, the fiscal framework establishes the necessary preconditions for a credible fiscal policy, but the credibility of the rules could be undermined by the large gap between them and actual medium-term fiscal plans.

General

Imprint: International Monetary Fund
Country of origin: United States
Release date: 2001
Authors: Michael Kell
Format: Electronic book text
Pages: 37
ISBN-13: 978-1-281-21400-3
Barcode: 9781281214003
Categories: Books
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LSN: 1-281-21400-0

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