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Sorry We Have No Money: Britain's Economic Problem
Searching Finance, Oct 2010, Pages: 278
The spending bubble has burst…where now for Britain’s finances?
The coalition government’s 2010 Spending Review is Britain’s defining economic event of the last 40 years, laying out the guiding principles that will underpin the government’s approach to setting spending limits and providing a complete re-evaluation of its role in providing public services.
In this new book, Warwick Lightfoot, a former adviser to successive Chancellors of the Exchequer uses the non-technical approach of the political economist to grapple with the economic and expenditure problems of modern Britain. Combining economic detective work with policy and literature reviews of everyone from Samuelson and Stiglitz to Tanzi and Baumol, he assesses:
- Why the huge increases in government spending have failed to deliver significant improvement in social welfare. The evidence from education and health markets.
- Why the case for expenditure cuts is about much more than ideology.
- Whether increased public spending has actually worsened the problems of de-marketised regions and widening skill gaps.
- Why 30 years of reform of government spending have failed to deliver increased efficiency. Is there likely to be much long-term impact from Sir Philip Green’s recent review?
- Why large parts of the UK more closely resemble the economics of the former Soviet Union.
- The looming horror of the PFI
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