Tag Archives: fiscal policy

Tom Papworth

Opinion: Fiscal consolidation and the Liberal Democrats

By Tom Papworth | Thu 12th March 2015 - 11:23 am

Newly minted coins by James Cridland james.cridland.net
Over the past few days, questions have emerged about the Liberal Democrats’ proposals for fiscal consolidation. Liberal Reform felt it would therefore be helpful to clarify what the challenges are, to explain how some of the figures are derived and to help people understand what the scale of the problem is.

Which deficit are we cutting and how much does it cost?

All three political parties have committed to eliminating the budget deficit over the next parliament. There are two things that divide the parties, however:

  • The speed of the consolidation – in what year will the budget be balanced
  • The definition of the “budget deficit.”

The Liberal Democrats have committed to eliminate the budget deficit by 2018-19. The Labour Party have postponed consolidation to 2020 and the Conservatives are being vague about when in the next parliament the budget will balance. The Lib Dems position reflects current government plans.

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Posted in Op-eds | Also tagged , and | 33 Comments
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  • User AvatarNick Baird 19th Oct - 1:14pm
    @nvelope2003 - "Any idea what the Turks are up to in all this ?" Trying to redeem themselves as defenders of free speech and journalistic...
  • User AvatarLorenzo Cherin 19th Oct - 12:51pm
    This is very helpful, the posting and politics of the new D66 leader Rob Jetten. He seems to have a greater feel for our culture...
  • User Avatarnvelope2003 19th Oct - 12:36pm
    EU Regulations have the force of law ostensibly so that there is a level playing field. Which Nato or UN regulations have the same status...
  • User AvatarTonyH 19th Oct - 12:27pm
    expats - I actually agree with you, but unfortunately QT still has a big audience and is probably one of the only ways that significant...
  • User AvatarPeter Martin 19th Oct - 12:25pm
    "Our sex discrimination laws, maternity leave, workers’ rights, environmental and health and safety protections started there." This is simply not true. For example the first...
  • User AvatarMichael Cole 19th Oct - 12:24pm
    I shall join the 'People's March tomorrow at Park Lane.