The Case for Fiscal Reform: Lessons from the Anglosphere
Federal fiscal reform in the United States is increasingly necessary but over the last two decades has remained elusive. The fiscal reform experiences in Australia, Canada, New Zealand, and the United Kingdom – what can be described as the “Anglosphere” – can give some context and background to the US policy debate and ultimately help shape a bipartisan consensus for action. As part of this MLI essay series, we have asked scholars and leading politicians – including Paul Martin, Peter Costello, Ruth Richardson, and Graham Brady – from these Anglosphere countries to describe their respective experiences with fiscal reform. We hope that US lawmakers from across the political spectrum learn from these experiences and see how fiscal reform can ultimately strengthen the US economy now and in the future.
Sean Speer and Alex Brill
Highlights
Arithmetic not ideology: Paul Martin for Inside Policy
Canada's former Finance Minister and 21st Prime Minister Paul Martin describes his experience putting Canada's public finances on a sustainable path. ...
How to fix the bleak, long-run outlook for US fiscal policy: MLI paper by Alex Brill
The United States is headed toward a federal debt crisis that will inflict serious economic hardship on future generations. Today,...
The UK’s experience with fiscal reform: MLI paper by Daniel Mahoney
Politics in the United Kingdom is currently focused on a debate between so-called “austerity” and public investment. The past seven...
Canada’s experience with fiscal reform: MLI paper by Sean Speer
Canada’s Department of Finance estimates that, on its current trajectory, the federal budgetary deficit may loom until 2050. Yet this...
How to tackle a $14.8 trillion debt: Lessons from America’s friends in the Anglosphere
OTTAWA, ON (Nov. 29, 2017): The United States is over $14.8 trillion in debt and there seems to be little political...
Response to the Financial Crisis in the United Kingdom: Foreword by Graham Brady
Graham Brady makes the case of deficit reduction and sound public finances, based on the UK’s recent experience. I have...
Australian Fiscal Reforms Since 1985: Foreword by Peter Costello
Peter Costello makes the case for strong fiscal policy, based on his own personal experience as Australia’s former Treasurer. This is...
New Zealand’s Fiscal Reforms, 1984-1996: Foreword by Ruth Richardson
New Zealand’s former Finance Minister Ruth Richardson comments on policies and politics of fiscal reform. This is the foreword to the...
