Since May 1997, the UK's macroecomic policy framework has undergone a period of radical reform so as to deliver the ecomic stability necessary to achieve high and stable levels of growth. This book provides a comprehensive account of these reforms, including financial and regulatory policy reforms. Radical changes to the monetary policy framework, the fiscal policy framework, the regime for public spending and financial regulation are also presented. Together they represent a coherent strategy to deliver ecomic stability and benefits to the wider ecomy. As well as providing an insight into UK Government ecomic policy, the book takes the reader through the intellectual underpinning to policy reform such as the arguments for central banking independence.
HM TREASURY, with a foreword by the Chancellor, Gordon Brown.