Rethinking the UK fiscal framework: lessons from elsewhere

Begg, Iain ORCID: 0009-0004-1518-0187 (2025) Rethinking the UK fiscal framework: lessons from elsewhere. National Institute Economic Review. ISSN 0027-9501

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Abstract

The UK fiscal framework, especially the fiscal rules in place, has faced widespread criticism. Since the current system was introduced, the UK’s fiscal arithmetic has worsened. The article examines practices in other countries and, going beyond rules, looks at other dimensions of their fiscal frameworks, then suggests a ‘menu’ of possible changes to improve the UK approach. Scrutiny and a variety of governance features also deserve attention. While not all practices elsewhere can be directly adopted in the UK institutional setting and some would encounter political sensitivities, many can.

Item Type:	Article
Additional Information:	© 2025 The Author(s)
Divisions:	European Institute
Subjects:	H Social Sciences > HB Economic Theory
JEL classification:	E - Macroeconomics and Monetary Economics > E6 - Macroeconomic Policy Formation, Macroeconomic Aspects of Public Finance, Macroeconomic Policy, and General Outlook > E62 - Fiscal Policy; Public Expenditures, Investment, and Finance; Taxation H - Public Economics > H6 - National Budget, Deficit, and Debt > H61 - Budget; Budget Systems E - Macroeconomics and Monetary Economics > E6 - Macroeconomic Policy Formation, Macroeconomic Aspects of Public Finance, Macroeconomic Policy, and General Outlook > E61 - Policy Objectives; Policy Designs and Consistency; Policy Coordination
Date Deposited:	31 Oct 2025 13:39
Last Modified:	16 Dec 2025 09:57
URI:	http://eprints.lse.ac.uk/id/eprint/130024

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