Downloads
![Image representing the file: bn79.pdf](/sites/default/files/output_url_files/bn79.pdf_0.jpg)
bn79.pdf
PDF | 355.11 KB
As the UK economy begins to shrink for the first time in 16 years, the two main political parties have been arguing over whether the public finances are stronger or weaker now than they were at the outset of the last recession in 1990 and when Labour came to power in 1997. This note looks at a couple of key indicators of the health of the public finances in historical and international perspective to assess this.
Authors
![Carl Emmerson](/sites/default/files/styles/square_desktop/public/2022-06/Carl_Emmerson.jpg?itok=6jM06LTY)
Deputy Director
Carl, a Deputy Director, is an editor of the IFS Green Budget, is expert on the UK pension system and sits on the Social Security Advisory Committee.
![Person graphic](/sites/default/files/styles/square_desktop/public/2022-06/IFS-person-graphic.png?itok=hWCtTSrz)
Robert Chote
![Person graphic](/sites/default/files/styles/square_desktop/public/2022-06/IFS-person-graphic.png?itok=hWCtTSrz)
Gemma Tetlow
Report details
- DOI
- 10.1920/bn.ifs.2008.0079
- Publisher
- IFS
Suggested citation
R, Chote and C, Emmerson and G, Tetlow. (2008). The UK public finances: ready for recession?. London: IFS. Available at: https://ifs.org.uk/publications/uk-public-finances-ready-recession (accessed: 2 July 2024).
More from IFS
Understand this issue
![Paul Johnson](/sites/default/files/styles/square_desktop/public/2023-01/Paul-Johnson.jpg?itok=-wNjanY3)
The Conservative manifesto
11 June 2024
![Polling station sign](/sites/default/files/styles/square_desktop/public/2024-06/Way-in-polling-station-sign_0.jpg?itok=qwcIntH3)
Tough questions will face the election winners
10 June 2024
![Ed Davey](/sites/default/files/styles/square_desktop/public/2024-06/Ed-Davey-.jpg?itok=ztS9cL-S)
Liberal Democrat manifesto: a reaction
10 June 2024
Policy analysis
![Welsh town with mountains behind](/sites/default/files/styles/square_desktop/public/2024-06/Welsh-town-feature.jpg?itok=5axb5wZn)
How would the parties’ tax and spending plans affect Scotland and Wales?
28 June 2024
![Ambulance and police car](/sites/default/files/styles/square_desktop/public/2024-06/Ambulance-and-police-car.jpg?itok=RMgHb2lX)
How should we interpret parties’ public spending pledges this election?
23 June 2024
![Ambulance and police car](/sites/default/files/styles/square_desktop/public/2024-06/Ambulance-and-police-car.jpg?itok=RMgHb2lX)
Main parties’ manifestos tell us little about the funding individual public services would actually receive
23 June 2024
Academic research
![Working paper cover](/sites/default/files/styles/portrait/public/2022-12/WP202256-A-monetary-fiscal-theory-of-sudden-in%EF%AC%82ations.jpg?itok=O33YkK3S)
A monetary-fiscal theory of sudden inflations
20 December 2022
![Book graphic](/sites/default/files/styles/portrait/public/2022-06/IFS-book-graphic.png?itok=9ggbjiDa)
Rewriting the fiscal rules
12 October 2021
![Book graphic](/sites/default/files/styles/portrait/public/2022-06/IFS-book-graphic.png?itok=9ggbjiDa)
Spending Review 2021: plans, promises and predicaments
12 October 2021