John Driffill's picture
Affiliation: 
Birkbeck College, University of London
Credentials: 
Professor of economics

Voting history

Responsible long-term fiscal policy (pilot survey)

First question:

To help ensure that advanced country governments have sufficient flexibility to respond to future crises, it is important that finance ministries aim for a ratio of public debt to GDP that is substantially less than 60% in normal times.

Answer:
Disagree
Confidence level:
Confident
Comment:
60 percent may be ok for countries with an independent monetary policy, like the UK, US and Japan, but too high for Euro zone members without the same flexibility, for whom a much lower limit such as 30 % might be needed

Second question:

To help ensure that advanced country governments pursue responsible fiscal policies, countries should adopt formal rules for limiting structural deficits, which are supported by primary legislation or constitutional reform.

Answer:
Agree
Confidence level:
Confident

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