Abstract
Our purpose in Chapter 3 is to describe the components of the UK fiscal system and to provide an up-to-date statistical analysis of government expenditure, taxes and borrowing. It does not seek to discuss the philosophy and mechanics of fiscal policy as such, which is left to the concluding Chapter 9, because it is unhelpful to discuss fiscal policy independently of monetary policy. Furthermore, it is impractical to discuss the use of policy instruments until all of the relevant policy objectives have been thoroughly reviewed, and their interrelationships assessed.
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References
Cm 441(1988) A New Public Expenditure Planning Total (HMSO) (July).
Cmnd 1432 (1961) Control of Public Spending (HMSO).
Levitt, M. and Joyce, M. (1987) The Growth and Efficiency of Public Spending (NIESR).
OECD (1985) Economic Studies (Spring).
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© 1990 Peter Curwen
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Curwen, P. (1990). Spending, Taxing & Borrowing. In: Curwen, P. (eds) Understanding the UK Economy. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-20586-8_4
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DOI: https://doi.org/10.1007/978-1-349-20586-8_4
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-0-333-51105-3
Online ISBN: 978-1-349-20586-8
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