An economist's view of what Labour can do

Article Abstract:

A future Labour government in the UK need not necessarily increase public spending and borrowing, as many observers believe, according to a new book from professor Richard Layard of the London School of Economics. He believes that it would be possible for a future Labour government to use only the relatively small amount of money which would be raised by a windfall tax on privatised utilities to undertake both small and large reforms. Key policies would include investing more money in raising standards among young adults with few educational qualifications, while turning student grants into loans.

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What Brown should budget for after the election

Article Abstract:

The UK Labour party is well aware of the need to avoid making dramatic changes in economic policy if it wins the forthcoming general election. Indeed, shadow chancellor Gordon Brown has already committed the party to adhering to the Conservative spending plans for the first two years of a new government. Furthermore, a new Labour government should take care not to make a hasty decision about European Monetary Union membership, even though it is likely to come under strong pressure to do so from civil servants.

Brown, Gordon (British politician)

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Labour might have more room for manoeuvre

Article Abstract:

Fiscal targets will play a significant role in political developments under a future Labour government in the UK. The Labour party has emphasised that it will only borrow to invest, not to fund current expenditure, and that it aims to ensure that public debt as a proportion of national income is kept under control. It is likely that the party's target for the PSBR will be 1-2% of GDP, compared with the present range of 0-1% set by the Conservative party.

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