The challenging fiscal situation facing the next government means that both Labour and the Conservatives are looking for ways to improve public services without large increases in spending. Improving the productivity of public services is often proposed as a way to achieve this. This follows the...

This note shows that the Italian Mini BOTs proposed in 2019 bore the potential neither to become Italian legal tender nor to practically increase Italian government debt, but to practically cause a mere reduction in taxation and thence in government spending or transfers. Since the Eurozone...