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Question: What does fiscal responsibility actually require?

What would fiscal responsibility look like if it counted not only the costs of public investment but also its returns in productive capacity, resilience, and long-term growth?

First policy brief: Fiscal Rules and Long-Term Inclusive Growth

Fiscal Rules and Long-Term Inclusive Growth

Governments must be able to meet their obligations over time, and the credibility of public finances affects borrowing costs across the economy. This brief asks whether defining fiscal responsibility primarily as reducing deficits and debt serves that objective. It examines five myths about fiscal policy and shows how they became embedded in the rules used […]