Question 2: Which of the following is the best way to address the impact of rising energy costs on household finances?
Answer:
Conditional/targeted transfers
Confidence level:
Very confident
Comment:
Collectively, we need to consume less energy this winter. Households in need should be supported holistically, not only their energy use. Households that are doing well can afford higher energy costs or may choose to cut their consumption.
Question 3: Should a windfall tax be used to (fully or partially) finance support to households?
Answer:
Yes
Confidence level:
Not confident
Question 1: Overall, which of the following best characterises how the government’s proposed energy policies will leave the average UK household over the medium term:
Answer:
Substantially worse off
Confidence level:
Extremely confident
Comment:
Given the events since September 23, this question is easy to answer. The interest rate increases that this package, together with unfunded tax cuts, will cost households far more in mortgage interest payments than they will save in energy bills. Even absent the unanticipatedly rapid pace of interest rate hikes, this policy would have been very untargeted and far too costly. There is simply less fuel to go around and someone needs to consume less. Ideally, it should be "luxury" usage of energy rather than "necessity" use, but the price cap does nothing to ensure this.
The CFM surveys informs the public about the views held by prominent economists based in Europe on important macroeconomic and public policy questions. Some surveys focus specifically on the UK economy (as the CFM is a UK research centre), but surveys can in principle focus on any macroeconomic question for any region. The surveys shed light on the extent to which there is agreement or disagreement among these experts. An important motivation for the survey is to give a more comprehensive overview of the beliefs held by economists and in particular to include the views of those economists whose opinions are not frequently heard in public debates.
Questions mainly focus on macroeconomic and public policy topics. Although there are some questions that focus specifically on the UK economy, the setup of the survey is much broader and considers questions related to other countries/regions and also considers questions not tied to a specific economy.
The surveys are done in collaboration with the Centre for Economic Policy Research (CEPR).
Addressing UK public finances after the mini-budget crisis
Question 2: Relative to the Autumn statement, would the UK be better off reducing public debt
Question 1: How necessary was it for the UK government to lower its deficit through tax increases or spending cuts in November 2022?
Assisting Households Facing Rising Energy Costs
Question 2: Which of the following is the best way to address the impact of rising energy costs on household finances?
Question 3: Should a windfall tax be used to (fully or partially) finance support to households?
Question 1: Overall, which of the following best characterises how the government’s proposed energy policies will leave the average UK household over the medium term:
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