Article contents
The Uncertainty of Government Debt Projections
Published online by Cambridge University Press: 26 March 2020
Extract
Since 1998, fiscal policy in the UK has been guided by two rules: the golden rule to borrow over the economic cycle only to invest, such that the average annual surplus on the public sector current budget as a share of GDP is greater or equal to zero; and the sustainable investment rule that public sector net debt should not exceed 40 per cent of GDP over the economic cycle.
- Type
- Research Article
- Information
- Copyright
- Copyright © 2006 National Institute of Economic and Social Research
Footnotes
∗Thanks to Ray Barrell, Simon Kirby and Martin Weale for helpful suggestions.
References
- 1
- Cited by