The onus of UK macroeconomic policy falls on the Bank of England. George Osborne, chancellor of the exchequer, has nailed his colours to the mast of fiscal discipline instead. Whatever wheezes appear in next week’s Budget are likely make little difference to immediate performance, as my colleague, Chris Giles, pointed out last week. This does not make the Budget unimportant. As Paul Johnson, director of the Institute for Fiscal Studies, has also noted, a tax system devoid of principles and rife with gimmicks is unpredictable and so a source of damaging uncertainty. But that is, alas, unlikely to change.
制定英国宏观manbetx20客户端下载 政策的责任落到了英国央行(BoE)身上。英国财政大臣乔治•奥斯本(George Osborne)反而旗帜鲜明地表明了自己对财政纪律的立场。正如我的同事克里斯•贾尔斯(Chris Giles)上周指出的那样，下周的财政预算案无论提议什么，都不会对当前的情况有多大帮助。不过，这并不意味着预算案无足轻重。伦敦财政研究所(Institute for Fiscal Studies)所长保罗•约翰逊(Paul Johnson)也指出，一套缺乏原则、充满欺骗的税收体制是不可预测的，因此也造成了具有破坏性的不确定性。但遗憾的是，这种情况不太可能得到改变。