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OECD recommendations on public expenditure

  • 22-10-2009 8:44pm
    #1
    Anonymous1987
    Closed Accounts Posts: 784 ✭✭✭


    Interesting points from the FT article:
    Spending on health, education and other social programmes will almost inevitably have to be cut as countries, including the UK, deal with the high levels of debt incurred in the wake of the financial crisis and recession, the Organisation for Economic Cooperation and Development said on Thursday.
    Seems to follow ESRI and bord snip recommendations
    The experience of Canada and others that have undertaken large fiscal consolidations “is that major cuts done once have tended to be more effective and more acceptable” than a gradual approach that spreads the pain out over many years, he said.
    The Irish government seems to be doing the opposite introducing cuts progressively.
    The OECD praised Australia’s approach of introducing intergenerational accounts, which provide much more detail of the likely future cost of public services than, for example, the UK Treasury’s projections of likely public spending in future.
    Interesting concept. I wounder will it catch on elsewhere?


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