The current crisis is an opportunity to reduce inequalities and inefficiencies in the economy, and to prepare us for the next phase of economic development. In this discussion paper, the authors look at some mechanisms for improving the equity and efficiency of stimulus spending.

There is growing consensus that it is time to end 'austerity’ in the UK. But with the country facing significant economic, social and political challenges, this cannot mean tinkering at the edges. Instead, policy makers must use this juncture as an opportunity to re-evaluate the role of the state in the decades to come.

This report critically responds to the call for fiscal austerity and public sector downsizing, being made in response to the emergence of fiscal deficits in Western Australia.

This study quantifies the macroeconomic and welfare effects of three proposed fiscal measures to eliminate Australian government budget deficits and to reduce public debt by 2030, namely: (i) temporary income tax hikes; (ii) temporary consumption tax hikes (increases in the GST rate); and (iii) temporary transfer payment cuts.