Hostname: page-component-848d4c4894-tn8tq Total loading time: 0 Render date: 2024-06-16T18:45:40.406Z Has data issue: false hasContentIssue false
  • English
  • Français

The Labour Government's Economic Record and Economic Prospects

Published online by Cambridge University Press:  26 March 2020

Ray Barrell ,
Simon Kirby ,
Robert Metz  and
Martin Weale
Get access Rights & Permissions [Opens in a new window]

Extract

When the Labour Party came to power in 1997, it had an agenda for reforming the functioning of the UK economy. It planned to introduce a stability-oriented macroeconomic policy that would enhance growth. It was critical of the high level of borrowing that the previous Government had undertaken, and promised to be more prudent. It wanted to increase participation and employment in the economy as a means of both increasing output and reducing poverty. It also aimed to improve the quality of the labour force by enhancing the educational standard of the population and to close the productivity gap between Britain and other European countries.

Type
Articles
Information
National Institute Economic Review , Volume 192 , April 2005 , pp. 4 - 10
Copyright
Copyright © 2005 National Institute of Economic and Social Research

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

References

Balls, E., Grice, J. and O'Donnell, A. (2004), ‘Microeconomic Reform in Britain’, Palgrave for H.M. Treasury.CrossRefGoogle Scholar
Barrell, R. and Gottschalk, S. (2004), ‘The volatility of the output gap in the G7’, National Institute Economic Review, April.CrossRefGoogle Scholar
Barrell, R., Metz, R. and Riley, R. (2004), ‘Recent UK growth: a comparison with France, Germany and the US’ National Institute Economic Review, April.CrossRefGoogle Scholar
Barrell, R. and Mitchell, J. (2004), ‘Cyclicity and international financial developments: cycles and systemic risks, contagion and globalisation and institutions and financial stability’, Monetary Policy, Economic Cycles and Financial Dynamics, Bank of France Bulletin.Google Scholar
Blundell, R. and Hoynes, H. (2004), ‘Has “in-work” benefit reform helped the labour market?’, in Blundell, R., Card, D. and Freeman, R. (eds), Seeking a Premier Economy: The Economic Effects of British Economic Reforms, 1980-2000, University of Chicago Press.Google Scholar
Byrne, J. and Davis, E.P. (2004), ‘Permanent and temporary inflation uncertainty and investment in the United States’, Economics Letters, 85, pp. 9–16.CrossRefGoogle Scholar
Dickens, R. and Manning, A. (2004), ‘Has the national minimum wage reduced wage inequality?’, Journal of the Royal Statistical Society, Series A, pp. 613–626.CrossRefGoogle Scholar
Massman, M. and Mitchell, J. (2002), ‘Have UK and Euro Zone business cycles become more correlated’, National Institute Economic Review, 182, pp. 58–71.CrossRefGoogle Scholar
Pomerantz, O. and Weale, M.R. (2005), ‘Are we saving enough? The macroeconomics of the savings gap’, National Institute Economic Review, 191, pp. 79–93.CrossRefGoogle Scholar
Riley, R. and Young, G. (2001), ‘Does welfare-to-work policy increase employment?: evidence from the UK New Deal for Young People’, National Institute Discussion Paper No. 183.Google Scholar
van Reenen, J. (2004), ‘Active labour market policies and the British New Deal’, in Blundell, R., Card, D. and Freeman, R. (eds) Seeking a Premier Economy: The Economic Effects of British Economic Reforms, 1980-2000, University of Chicago Press.Google Scholar
Sefton, J. and Weale, M.R. (forthcoming), ‘The concept of income in a general equilibrium’, Review of Economic Studies, revision of National Institute Discussion Paper No. 163.Google Scholar
Stewart, M. (2004), ‘The employment effects of the national minimum wage’, The Economic Journal, No., pp. C110–C116.Google Scholar