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Approaches to the PSBR

Published online by Cambridge University Press:  26 March 2020

John Odling-Smee  and
Chris Riley
John Odling-Smee
Affiliation:
H M Treasury
Chris Riley*
Affiliation:
H M Treasury
*
∗We are grateful for helpful assistance and comments from Treasury colleagues, especially Stephen Davies, and participants in the National Institute conference. The views expressed in this paper are those of the authors; they are not necessarily those of the Treasury. This paper is Crown copyright.
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Extract

Most economists would doubtless reject the idea that policy makers or the public should judge budgets solely in terms of a single summary concept, surplus or deficit. Yet there is an undoubted demand for a single statistic which provides at least a rough-and-ready summary of the fiscal position. The attempt to specify such a single statistic has given rise to controversy for many years.

Type
Research Article
Information
National Institute Economic Review , Volume 113 , August 1985 , pp. 65 - 80
Copyright
Copyright © 1985 National Institute of Economic and Social Research

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