Blog: Britain's record deficit: a real diagnosis and solution

Britain's record deficit: a real diagnosis and solution

On 10/03/2010, by Danny Gabay. Keywords: Monetary Policy Forum, Deficit

The UK’s public finances are in a dreadful state. That much is not in dispute. Many other countries are in trouble, but few are in quite the mess the UK is in. Unfortunately, the debate about what should be done and when has generated a lot of heat, but so far shed little light on the matter at hand.

One hundred of the country’s finest economists have put pen to paper to offer three alternative views, which for so many economists is not a bad return, but is still not very helpful. For all the sound and fury, they disagree on very little of substance. In the final analysis we are talking about a few tenths of a percentage point of GDP here, and perhaps the odd quarter there, in terms of timing. Much the same could be said of the main political parties

So, what should be done? To read the full article – published by The Daily Telegraph - please click here:

http://www.telegraph.co.uk/finance/economics/7353209/Britains-record-deficit-a-real-diagnosis-and-solution.html