Simon Wren-Lewis's picture
Affiliation: 
University of Oxford
Credentials: 
Professor of economics

Voting history

COVID-19 and UK Public Finances

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.

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?

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.

Pages