Government debts and fiscal deficits in the United Kingdom: A Critical Review

Research output: Contribution to journalArticle

Abstract

This article intends to examine the issues of public debt and austerity policy in the United Kingdom. It attempts to provide an evaluation of fiscal policy under neoliberalism and to consider the relationship between this policy and the macroeconomic performance of the United Kingdom economy. There also seem to be ambiguities among the policy makers about austerity. Therefore, it seems important to examine the issue of government-imposed austerity policies and fiscal deficits. There is a need to borrow to cover the deficits as there is no inflationary pressure in the United Kingdom. Most democratic solutions against any inflationary pressures are to reduce the money in circulation through higher taxes. This study concludes that increased state intervention, as a means to enhance long-term growth, is crucial for achieving economic stability and greater equality.

LanguageEnglish
Pages40-68
Number of pages29
JournalWorld Review of Political Economy
Volume10
Issue number1
DOIs
Publication statusPublished - 1 Mar 2019

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austerity policy
indebtedness
deficit
debt policy
money supply
national debt
fiscal policy
neoliberalism
macroeconomics
equality
taxes
economy
evaluation
performance
economics
Fiscal deficit
Government debt

Cite this

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Government debts and fiscal deficits in the United Kingdom : A Critical Review. / Siddiqui, Kalim.

In: World Review of Political Economy, Vol. 10, No. 1, 01.03.2019, p. 40-68.

Research output: Contribution to journalArticle

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