Question 2: What is the best way to (eventually) reduce public deficits and debt?
Answer:
Tax increases
Confidence level:
Confident
Question 1: How urgently should the UK government address the rise in public debt?
Answer:
Budgetary policy should not be used to address public deficits and debts in the foreseeable future
Confidence level:
Extremely confident
Comment:
Only when the economic recovery from the pandemic is complete, and as a result interest rates are rising, will it be the time to consider what action, if any, to take on budgetary policy. In particular concerns about the deficit should not be used to prevent any fiscal stimulus that may be required to get the economy going again once the pandemic is over.
Question 3: Which would be the maximal public debt you would be willing to tolerate if used effectively (as in your answers to 1 and 2 above) to support an economic recovery?
Answer:
>140% of GDP
Confidence level:
Extremely confident
Comment:
This should not be an issue.
Question 2: Which of the following would have the second greatest impact in mitigating the economic effects of the coronavirus economic crisis in the UK?
Answer:
None of the above, other, or no opinion
Confidence level:
Very confident
Comment:
Need in addition to first choice raising sick pay levels, support for self-employed and raising welfare payments of most kinds.
Question 1: Which of the following would have the greatest impact in mitigating the economic effects of the coronavirus economic crisis?
Answer:
Government credit support for businesses
Confidence level:
Confident
Comment:
As long as it is combined with the state paying most of each firm's wage bill.
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).
COVID-19 and UK Public Finances
Question 2: What is the best way to (eventually) reduce public deficits and debt?
Question 1: How urgently should the UK government address the rise in public debt?
Covid-19: Economic Policy Response
Question 3: Which would be the maximal public debt you would be willing to tolerate if used effectively (as in your answers to 1 and 2 above) to support an economic recovery?
Question 2: Which of the following would have the second greatest impact in mitigating the economic effects of the coronavirus economic crisis in the UK?
Question 1: Which of the following would have the greatest impact in mitigating the economic effects of the coronavirus economic crisis?
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