From devaluation to fiscal transfers

Article Abstract:

John Major's victory in the battle for the leadership of the Conservative party and the subsequent Cabinet reshuffle will not heal the deep divisions with the party over the issue of European monetary union (EMU). The UK's generally negative attitude contrasts strongly with that of other potential EMU members, which are enthusiastic about joining the system even though their economies are just as weak as that of the UK. They see EMU as the only way of escaping their economic difficulties, while the UK is more sceptical about convergence.

Monetary unions

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Labour looks favourite for the fiscal beauty contest

Article Abstract:

The UK Labour party will be able to use the forthcoming Budget as an opportunity to gain public support in the area of fiscal policy. Chancellor Kenneth Clarke is likely to pursue the strategy of the last two years, and this will leave the Labour party able to claim that statistics have been manipulated in order to make the fiscal situation appear better than it really is. It will also be able to make negative statements about the reality of public sector borrowing.

Labour Party (United Kingdom), Conservative Party (United Kingdom), Tax policy

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If Japan is 'near to collapse' is it time to kick old fiscal habits?

Article Abstract:

Issues concerning the management of Japan's economic difficulties are discussed. It is argued that it is unlikely that there are any policies that will ensure that the Japanese economy returns to the high growth rates of the past.

Japan, Management, Economic aspects, Column, East Asia

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