Briefing Note (BN26)

Measuring UK fiscal stance since the Second World War

Date: 02 June 2002
DOI: 10.1920/bn.ifs.2002.0026
In this note, the authors examine how we might measure the fiscal stance in terms of the scale of the public deficit. They show the path the gap between state income and expenditure has taken since 1946. The paper also tries to isolate the effects of government policy as opposed to the economic cycle.