IDEAS home Printed from https://ideas.repec.org/a/ifs/fistud/v11y1990i2p8-17.html
   My bibliography  Save this article

UK entry to the ERM: what level?

Author

Listed:
  • Giles Keating

Abstract

The City reaction to Mr Major's first Budget was generally one of disappointment, partly because fiscal policy was perceived as lax, partly because nothing new was said about the European Monetary System (EMS). Subsequent ministerial speeches gave a more positive tone to the Government's attitude to the EMS, and the Governor of the Bank of England has signalled that the debate over sterling's full entry to the EMS should now be moving on from 'whether' to 'how', and in particular to the issue of the level at which sterling joins. Moreover, possibly the most important hint yet that UK entry is getting close was given by Sir Alan Walters, who seems to have relaxed his anti-EMS stance markedly. He indicated that economics would be only one part of the Government's eventual decision on whether or not to join. 'Mayber there are costs worth paying', he said. In this paper I will briefly review the fiscal stance of the Budget, and then turn to the key issue of 'how' sterling should join the EMS.

Suggested Citation

  • Giles Keating, 1990. "UK entry to the ERM: what level?," Fiscal Studies, Institute for Fiscal Studies, vol. 11(2), pages 8-17, August.
    • Handle: RePEc:ifs:fistud:v:11:y:1990:i:2:p:8-17
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ifs:fistud:v:11:y:1990:i:2:p:8-17. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Emma Hyman (email available below). General contact details of provider: https://edirc.repec.org/data/ifsssuk.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.