Synopsis
A bipartisan council should be set up and granted authority to enforce a ‘comply or explain’ discipline on budgetary assumptions and attempts to obfuscate.
By Viral AcharyaWith the scale of GDP contraction due to the Covid-19 pandemic now confirmed, the urgency of providing immediate relief to the most affected citizens and states has risen. Does the trick to create additional space for this short-term expenditure lie in the government rebuilding medium-term commitment to reduce the overhang of its borrowings on future growth?There is a powerful, yet beautifully simple, principle in economics
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