Silvana Tenreyro's picture
Affiliation: 
London School of Economics

Voting history

2014 Autumn Statement

 

Question 2: Do you agree that the underperformance of tax receipts in recent years, provides a strong case for higher taxes?

Answer:
Disagree
Confidence level:
Confident
Comment:
By definition, nothing is normal in a crisis; the government should be more patient and let the economy recover before re-assessing its tax policy.

Question 1: Do you agree that the scale of this planned reduction in total managed expenditure is credible?

Answer:
Disagree
Confidence level:
Confident
Comment:
The forecast cut seems extreme. It's hard to imagine a sensible government would be willing to inflict so much pain on an economy that is only feebly recovering from a large crisis.

Devolving Income Tax Powers within the UK

Question 2: Do you agree that that there is a clear economic case for establishing "English votes for English laws" with the same tax and spending powers as the Scottish Parliament?

Answer:
Agree
Confidence level:
Confident

Question 1: Do you agree that the economic benefits of devolving full income tax powers to the Scottish Parliament and Welsh Assembly outweigh the possible costs?

Answer:
Disagree
Confidence level:
Confident
Comment:
I don't think this is the right time to do this. To consider devolving full income tax powers, Scotland and other UK regions should be in a much stronger fiscal position, with clear provisions for what would happen in the event of a debt crisis (e.g., is the monetary union going to behave as a lender of last resort? In the future, however, this possibility could be revisited, provided the UK fiscal position is improved and the regions agree on a well-thought plan for the resolution of fiscal crises.

Secular Stagnation

Question 2: Do you think that current structural and fiscal policies should place a considerably greater emphasis on pushing the natural rate into positive territory?

Answer:
Disagree
Confidence level:
Confident
Comment:
The natural rate of interest per se should not be a target for structural or fiscal policy (for one, it is difficult to measure!); unemployment and other labour market variables---among others---are more informative and relevant indicators to guide policy actions.

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