The Way the Money Goes
The Fiscal Constitution and Public Spending in the UK
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Product details:
- Publisher OUP Oxford
- Date of Publication 20 October 2023
- ISBN 9780198865087
- Binding Hardback
- No. of pages304 pages
- Size 242x162x22 mm
- Weight 584 g
- Language English 447
Categories
Short description:
The Way the Money Goes traces out what happened to the UK's fiscal constitution - the framework for planning and controlling public spending - under three different governments (Conservative, Labour, Conservative/Liberal Democrat) from the early 1990s to the mid-2010s.
MoreLong description:
The Way the Money Goes traces out what happened to the UK's fiscal constitution - the framework for planning and controlling public spending - under three different governments (Conservative, Labour, Conservative/Liberal Democrat) from the early 1990s to the mid-2010s. The book tells the story of what happened under each government and combines narrative with vignettes that range from the funding of a new Treasury building to efforts to 'crowdsource' ideas for spending cuts. It also includes chapters devoted to different domains of spending control, namely capital spending, spending by subnational governments, running cost expenditure, fiscal forecasting, and the development of new accounting metrics.
This book is based on over 120 in-depth interviews of civil servants and ministers who were involved in public spending over the period, as well as documents from the same timeframe. It explores how and why, despite much talk of change and reform in everything from parliamentary procedure to bureaucratic processes, many of the underlying features of the UK's fiscal constitution persisted, including arrangements for formula-funding of the different countries within the union designed as a temporary stopgap in the transition to devolution. To put UK developments into perspective, the book includes a discussion of how the UK system was rated in reports from international bodies over the period, which suggests that in such exercises the more 'political' parts of the fiscal constitution were rated differently from the more 'technocratic' parts. Given several volcanic-type political eruptions in the UK over recent years, the book concludes by exploring some different possible scenarios for the future of its fiscal constitution in the light of those and other possible eruptions to come.
Table of Contents:
Part I. Public Spending Control and the UK's Fiscal Constitution
Introduction
Dogs That Didn't Bark: Seven Continuing Features of the Fiscal Constitution
Part II. UK Public Spending Control under Three Governments, 1992-2015
Fear, Shock, and Spending Control under the Major Government, 1992-1997
Public Spending by Other Means? New Labour, New Labels, 1997-2010
Austerity, Coalition, and Public Spending Control under the Cameron-Clegg Government, 2010-2015
Part III. Five Aspects of Public Spending Control
Hunting an Elephant with a Pea-Shooter: Power Politics and Cost-Benefit Analysis in Investment and Infrastructure Spending
Devolved Administrations and Local Government: Little Moral Hazard but Little True Autonomy
Letting Sleeping Dogs Lie: Administration Costs and the Tenacity of Input Controls
Yesterday's Tomorrows: Forecasts and Outturns in Public Spending, 1993-2015
The People, the Rules, and the Numbers
Part IV. UK Public Spending Control in Perspective
As Others Saw It: Rating and Comparing UK Public Spending Control
Conclusion and Epilogue: The Fiscal Constitution, Then, Now, and to Come
