Join us for this panel discussion on UK's current economic crisis, fiscal policies, and the way out.
The UK Chancellor of the Exchequer’s ‘mini budget’ on 23 September launched a Growth Plan for the United Kingdom involving tax cuts and support for energy bills. Its purpose was to raise trend growth and liberalise the economy via an increase in borrowing. Instead, it led to a financial crisis with a sharp decline in the value of the pound, significant rises in UK government gilt yields, a risk of pension fund insolvency and the need for intervention by the Bank of England. The Chancellor was removed and, subsequently most of the tax policy proposals were reversed by his successor. The impacts of the crisis will feed through into household and business budgets during the coming year. There have been both economic and political consequences, including the departure of another prime minister.
This event will look at what happened and why. How could an advanced democracy, with sophisticated expertise and deep historical knowledge, deliver such a remarkable policy failure? What are the lessons for future policy makers around the world?
Meet our speakers and chair
Charles Bean is a British economist and Professor of Economics at LSE. He was previously Deputy Governor for Monetary Policy at the Bank of England. From 2000 to 2008, he served as Chief Economist at the Bank.
Alexander Evans (@aiaevans) is Professor in Practice of Public Policy at LSE. He was previously Strategy Director in the Cabinet Office and has also worked as an adviser in 10 Downing Street.
Stephanie Flanders (@MyStephanomics) is Senior Executive Editor for Economics at Bloomberg and head of Bloomberg Economics. She was previously the BBC Economics Editor (2008-13).
Gene Frieda is Senior Visiting Fellow at the LSE School of Public Policy. Gene is an executive vice president and global strategist based in London and currently serves as a rotating member of PIMCO’s investment committee.
Tony Travers is Associate Dean of LSE School of Public Policy and Director of LSE London. His key research interests include local and regional government, elections and public service reform. Tony is chair of the British Government@LSE research group.
More about this event
The LSE School of Public Policy (@LSEPublicPolicy) equips you with the skills and ideas to transform people and societies. It is an international community where ideas and practice meet. Their approach creates professionals with the ability to analyse, understand and resolve the challenges of contemporary governance.
Twitter Hashtag for this event: #LSEUKEconomy
Podcast & Video
You can watch a recording of this event here.
You can listen to the podcast here.
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