Euro-sclerosis need not be catching

Article Abstract:

Some observers believe that the UK should never become a member of European monetary union (EMU), arguing that continental European countries may not introduce sufficient market-friendly reforms in their economies, thus bringing problems with low gross domestic product growth and high unemployment. It is important to remember that most of the important areas of policy relating to labour and product market flexibility are already influenced by European Union regulations, and that UK membership of EMU would therefore make no difference. Joining EMU would not necessarily create economic difficulties for the UK.

United Kingdom, Administration of General Economic Programs, Intnl Economic Policy, International politics, Economic aspects, International economic relations, European Monetary System

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Budget spending plans will not fix deficit

Article Abstract:

Economists have very mixed views about the health of public finances in the UK following the recent 1995 Budget. Some feel that chancellor Kenneth Clarke is guilty of fiscal profligacy, as the 1995 Budget was less strict than had been foreshadowed in the 1994 Budget. Others claim that the basic fiscal stance is likely to tighten in the medium term. This is because public spending is intended to remain static in real terms over the next three years, with the share of spending in GDP thus falling.

Analysis, Budget, Budgeting, Budgets

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