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Finding The Goldilocks Point: Fiscal Choices and Asset Sales
Finding The Goldilocks Point
Fiscal Choices
and Asset Sales
Pre-Budget Statement from the Green Party
By Mark P. Williams
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Today the Green Party outlined their critique of the current Government policy on its asset sales programme.
Dr Norman outlined
the Green Party’s position on the Government’s proposals
for economic rebalancing. He explained why the Greens
believe that current fiscal choices are poor in terms of
manufacturing, he criticised the 2010 tax changes, and the
quality of Government spending on infrastructure such as
Roads of National Significance. He proposed alternative
approaches to these areas and further investment in
alternative energy and Green growth sectors.
Dr Norman
then introduced BERL chief economist DrGanesh Nana who had
been commissioned by the Greens to investigate the
Government asset sales programme.
In his presentation, Dr Nana was keen to clarify a number of points which can become muddied in discussions of the relative benefits of the asset sales programme. He drew careful attention to the differences between the ‘government deficit’ and ‘government debt’, and the economic distinctions between ‘government deficit’ and ‘external deficit’, and between ‘government debt’ and the ‘external debt’. Dr Nana stated that while government debt can have positive or negative outcomes, “External debt is the loan shark.”
After the two presentations, both Dr Norman and Dr Nana took questions from the media. Dr Norman concluded that the important aspect of any future economic direction must look at a combination of spending cuts and increasing revenue gains from assets. Dr Norman said that the Government is applying the wrong prescription; he added that although nobody knows the “exact Goldilocks point between spending and revenue…it can’t just be one sided and the Government currently is very much focused on one side”.
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ENDS
Mark P. Williams
Political Journalist and Independent Academic Researcher
Journalist and independent academic researcher with primary interests in politics and literature.
As a researcher I am a contributor to various academic publications, including Alluvium journal of 21st century literature, The Literary London Journal, The Irish Journal of Gothic and Horror Studies, and Critical Engagements: Journal of the UK Network for Modern Fiction Studies (UKNMFS).
As a journalist, I have worked as Parliamentary reporter for Scoop Independent Media and International editor for the Scoop Review of Books.
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