Woods analyses the role of public debt within the UK fiscal rules. The analysis is framed in the context of both the theoretical literature on fiscal sustainability and of the UK debt history. The UK government has two rules: the golden rule and the sustainable investment rule. The paper focuses...

Woods examines the role of fiscal indicators in the UK fiscal policy framework. This includes the golden rule and the sustainable investment rule, requiring public sector net debt as a proportion of GDP to be held at a stable and prudent level over the economic cycle. Woods considers the wide...