This paper builds on the papers published by HM Treasury in 2003 alongside the UK Government's assessment of the case for EMU entry. The paper considers the potential for fiscal policy to play a greater role in stabilisation policy if the UK were inside EMU. The paper considers: the scope for...

This paper builds on the discussion paper published by HM Treasury in 2003 alongside the UK Governments̕ assessment of the case for EMU entry. The paper considers the potential for fiscal policy to play a greater role in stabilisation policy if the UK were inside EMU. The paper considers: the...

Toigo and Woods consider the role of public investment in the UK fiscal policy framework. First, they examine the general guidelines for public investment policy: these should address both microeconomic considerations concerning efficiency and the costs and benefits of individual projects and...

The new fiscal and expenditure policy framework adopted in the United Kingdom in 1997 included clear fiscal rules and a reformed system of budgetary controls and capital appraisal procedures. These macro and micro reforms allowed the historic shortfall in public investment to be addressed. This...