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Failing the tests

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Britain's public finances, once gratify-ingly healthy, are regaining their more familiar sickly aspect. Recent official numbers suggested that fiscal malaise was setting in. An independent diagnosis this week confirms that it is grave. Wearing the white coats were researchers at the Institute for Fiscal Studies (ifs), a think-tank, which presented its annual budgetary review on January 30th. After much prodding and probing of the nation's finances, they concluded that the government will have to raise an extra £8 billion a year if it is to meet its two fiscal rules. Coming, as it does, after a decade of steady economic growth, the shortfall limits the scope for budgetary stimulus to offset an economic downturn now.
机译:曾经令人欣喜的健康的英国公共财政,正在重新获得他们更为熟悉的病态。最近的官方数字表明,财政状况不佳正在加剧。本周的独立诊断证实这是严重的。智囊团财政研究所(ifs)的研究人员穿着白大褂,该研究所于1月30日提交了年度预算审查。在对国家财政进行了多次探索和探讨之后,他们得出结论,如果政府要满足其两项财政规则,则将不得不每年额外筹集80亿英镑。在经历了十年的稳定经济增长之后,这种短缺的出现限制了预算刺激措施抵消当前经济衰退的范围。

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