Government spending does not come out of thin air
This week I shall continue my discussion of the threatening size of government spending (as a proportion of GDP) to the medium-term economic outlook and macroeconomic stability. In response to several readers’ queries, I wish to point out that, the statutory passing of the annual budget, with or without amendments and cuts at the end of April, does not bring to an end the need for debates, discussions and analytic discourses over the Budget.
Instead I would suggest it marks the start of the official implementation in the coming year of the National Budget 2012 recently passed by the National Assembly. The full implications of …..To continue reading, login or subscribe now.