Abstract
At the turn of the millennium, British voters and politicians demanded far more spending than they were prepared to raise in tax. The result was chronic deficits, and a country unprepared for the financial crisis. Across the Atlantic, Canada took a very different path.
This is a preview of subscription content, log in via an institution to check access.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Preview
Unable to display preview. Download preview PDF.
Notes
David Henderson, Canada’s Budget Triumph (Mercatus Center, George Mason University, 2010), p. 9.
Timothy Lewis, In the Long Run We’re All Dead: The Canadian Turn to Fiscal Restraint (UBC Press, 2003), p. 67.
Jocelyn Bourgon, Program Review: The Government of Canada’s Experience Eliminating the Defcit, 1994–99: A Canadian Case Study (Institute for Government, 2009), p. 11.
CentreForum, Dealing with Debt: Lessons from Abroad (2010), p. 19.
Niels Veldhuis, Jason Clemens and Milagros Palacios, Budget Blueprint: How Lessons from Canada’s 1995 Budget Can Be Applied Today (Fraser Institute, 2011), p. 13.
Andrew Lilico, Ed Holmes and Hiba Sameen, Controlling Spending and Government Deficits (Policy Exchange, 2009), p. 80.
(Lilico, et al., Controlling Spending and Government Deficits2009), pg p. 80.
Thomas Macaulay, History of England from the Accession of James II (1848).
Niall Ferguson, The Cash Nexus: Money and Power in the Modern World, 1700–2000 (Penguin, 2001), p. 53.
Office for Budget Responsibility, Economic and Fiscal Outlook, March 2012.
Carmen Reinhart and Kenneth Rogoff, This Time is Different: Eight Centuries of Financial Folly (Princeton University Press, 2009).
Christina Romer, ‘Macroeconomic Policy in the 1960s: The Causes and Consequences of a Mistaken Revolution’, Lecture, Economic History Association Annual Meeting, 2007, p. 26.
Manmohan Kumar and Jaejoon Woo, Public Debt and Growth, IMF Working Paper (2010).
Edward Nelson and Kalin Nikolov, UK Inflation in the 1970s and 1980s: The Role of Output Gap Mismeasurement (Bank of England, 2001), p. 14.
Edward Balls, Euro-Monetarism: How Britain was Ensnared and How it Should Escape (Fabian Society, 1992).
HM Treasury, Reforming Britain’s Economic and Financial Policy: Towards Greater Economic Stability (Palgrave, 2002), p. 1.
Robert Peston, Brown’s Britain (Short Books, 2006), p. 167.
William Keegan, The Prudence of Mr Brown (Wiley, 2003), p. 250.
Keegan, The Prudence of Mr Brown, 2003.
McKinsey Global Institute, Debt and Deleveraging: Uneven Progress on the Path to Growth (2012).
Michael Bordo, Angela Redish and Hugh Rockoff, Why Didn’t Canada Have a Banking Crisis in 2008 (or in 1930, or in 1907, or in 1983) (2010).
Heritage Foundation, Index of Economic Freedom (2011).
Cato Institute, Economic Freedom of the World (2011).
Copyright information
© 2012 Kwasi Kwarteng, Priti Patel, Dominic Raab, Chris Skidmore and Elizabeth Truss
About this chapter
Cite this chapter
Kwarteng, K., Patel, P., Raab, D., Skidmore, C., Truss, E. (2012). A Tale of Two Nations. In: Britannia Unchained. Palgrave Macmillan, London. https://doi.org/10.1057/9781137032249_3
Download citation
DOI: https://doi.org/10.1057/9781137032249_3
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-137-03223-2
Online ISBN: 978-1-137-03224-9
eBook Packages: Palgrave Political & Intern. Studies CollectionPolitical Science and International Studies (R0)