PLANNING AND CONTROLLING PUBLIC EXPENDITURE IN THE UK, PART I: THE TREASURY'S PUBLIC EXPEIWITURE SURVEY

The Treasury's annual survey of public expenditure is the central element in planning and controlling public expenditure. While its purpose remains similar to that in the 1970s, the principles governing its preparation, the methodology employed and the conduct of negotiations between the Treasury and the departments have changed with successive attempts to control both the total and programme allocations more effectively. This article examines and explains the process of preparing the survey, through the main stages from the decisions about the size of total public spending in the context of the government's macroeconomic strategy to the announcement in the Autumn Statement of the planned totals and allocations for the next three years and finally to the publication in February of the departmental Public Expenditure Chapters. Part I1 [Summer issue] analyses the effects and effectiveness of the survey processes, and discusses whose interests have been best served.     

Union Africaine des Arts et des Lettres

In many ways, the Belgian Congo leads the rest of Africa, ina really serious effort at the mingling of cultures. It is,for example, significant that despite Makerere, neither SouthernRhodesia nor Kenya, main areas of British Settlement, have anythingapproaching the Centre d'Etudes des Problémes SociauxIndigénes, on which we had a note in April, 1949. Thisarticle describes another Belgian initiative. It is by the founderof the U.A.A.L., who is also editor of its journal Jeune Afrique.The translation is by M. H. C. Willems.     

Explanations of the Financial Meltdown and the Present Recession

The concern of this article is to locate the unfolding literature that seeks to explain the present financial crisis into three dimensions of contestability. The major areas of disagreements between various authors include: the role of government; the issues of whether the recession was unavoidable or whether it was inevitable; and the area of ideas and ideals and how economic ideas shaped and influenced the policy process. These explanations include the pragmatists and all that literature that had a time dimension of major actors trying to produce policies that aimed to stabilise the financial markets. These policy makers did not have the benefit of hindsight but were concerned that the financial markets were so fragile that there was no other choice but for governments to intervene. By contrast, there were the market fundamentalists who argued that the pragmatists had got it wrong and were therefore highly critical of the Federal Reserve and the Treasury and tended to blame the recession on government housing policy. Institutionalists have argued that the regulatory system is broken, while structuralists tend to focus on growing income inequalities, the concentration of wealth and how the changing structure explains the recession in the sense that households took the avenue of higher debt on their homes to sustain higher levels of consumption. Finally, there is the Keynesian Collectivist argument that points to the limits of Rational Expectations and Efficient markets. No one really know who is right, but the fierce debate that is emerging is highly important in that each explanation seeks to provide a framework for policy making