Since May 1997 the British macroeconomic policy framework has undergone a period of radical reform in order to deliver the economic stability necessary to achieve high and stable levels of growth. This book provides a comprehensive account of these reforms, including financial and regulatory policy reforms. Radical changes to the monetary policy framework, the fiscal policy framework, the regime for public spending and financial regulation are presented. Together they represent a coherent strategy to deliver economic stability and benefits to the wider economy. As well as providing an unprecedented insight into British government economic policy, the contributors take the reader through the intellectual underpinning to policy reform such as the arguments for central banking independence.

Microeconomic Reform in Britain: Delivering Enterprise and Fairness provides a comprehensive guide to the extensive microeconomic reforms implemented over the last six years in the UK. Building on the foundations of monetary and fiscal reform, the reforms in microeconomic policy described in this volume provide the framework for improving Britain's overall productivity, expanding national wealth and protecting the environment.

In recent years the UK's macroeconomic policy framework has undergone a period of radical reform so as to deliver the economic stability necessary to achieve high levels of growth and employment. This book provides a comprehensive account of these reforms, which constitute a new and innovative approach to policy making. Radical changes to the monetary policy framework, the fiscal policy framework, the regime for public spending and financial regulation are presented. Together they represent a coherent strategy to deliver economic stability and benefits to the wider economy. As well as providing an unprecedented insight into UK Government economic policy, the book takes the reader through the intellectual foundations of policy reform and the translation of these to applied policy making. Reforming Britain's Economic and Financial Policy contains a foreword by the Chancellor, Gordon Brown.