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How to Pay for the Coronavirus Emergency The Fiscal Challenge

Toporowski, Jan; Jump, Robert

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Authors

Jan Toporowski

Robert Jump



Abstract

The coronavirus emergency presents the British Government with the greatest fiscal challenge since the Second World War. While the course of the emergency will be determined by the nature of the infection and the arrangements for dealing with it, the course of the recovery from the epidemic will be determined by the financing of the emergency, whether this is done by the government, or left to households and firms running up private debt. The quickest recovery will be obtained by maintaining a high level of government borrowing serviced by taxes on wealth and profits. This would reverse some of the regressive features of the epidemic which is exacerbating an unequal distribution of income and wealth.

Citation

Toporowski, J., & Jump, R. (2021). How to Pay for the Coronavirus Emergency The Fiscal Challenge. International Journal of Public Law and Policy, 7(1), 1-13. https://doi.org/10.1504/IJPLAP.2021.115005

Journal Article Type Article
Acceptance Date Jun 25, 2020
Online Publication Date May 12, 2021
Publication Date May 12, 2021
Deposit Date Jul 3, 2020
Publicly Available Date Jul 3, 2020
Journal International Journal of Public Law and Policy
Print ISSN 2044-7663
Electronic ISSN 2044-7671
Publisher Inderscience
Peer Reviewed Peer Reviewed
Volume 7
Issue 1
Pages 1-13
DOI https://doi.org/10.1504/IJPLAP.2021.115005
Keywords coronavirus costs, fiscal policy, taxation, government debt, debt management, Keynes, Kalecki

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Toporowski_How to Pay for the Coronavirus Emergency The Fiscal Challenge.pdf (262 Kb)
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Copyright Statement
This is the version of the article/chapter accepted for publication in International Journal of Public Law and Policy, 7 (1). pp. 1-13 published by Inderscience
https://doi.org/10.1504/IJPLAP.2021.115005
Re-use is subject to the publisher’s terms and conditions





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