bbc article
t2u questions:
“The bulk of this fiscal consolidation should be borne by reductions in government spending, but that process should be mindful of its impact on society’s more vulnerable groups. Tax increases should be broad-based and minimise damaging increases in marginal tax rates on employment and investment”
1/ What is a structural budget deficit?
2/ Why do the economists favour cuts in government spending over higher taxes?
3/ Can you think of broadly-based tax increases that might be introduced?
4/ Why are the economists concerned about the impact of higher marginal tax rates on employment and investment?
echoes of 1980 with economists writing an open letter to Mrs Thatcher :
364 economists - the budget 1981 (bbc video)
reflection on 1981 letter and context (pdf)
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