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The Economy in 2023: Where Do We Go From Here?
Intelligence Squared
Is There a Need for the Government to Use Fiscal Policy?
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Rishi Sunak says the best way to get your debt picture improving its growth. If you don't have that, then you should borrow, but it makes sense to do so. What one needs to have is coordination between monetary and fiscal policy. The real problem has been, in my personal view, since 2008, that monetary policy has actually not focused on what it should have focused on. Cheap money has led to asset price inflation - we're not building enough properties. It's also led to an inefficient allocation of capital,. And it's led to an environment where inflation has picked up.
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