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Public Investment in the United Kingdom

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  • Pietro Toigo
  • Robert Woods

Abstract

The new fiscal and expenditure policy framework adopted in the United Kingdom in 1997 included clear fiscal rules and a reformed system of budgetary controls and capital appraisal procedures. These macro and micro reforms allowed the historic shortfall in public investment to be addressed. This article lays out some general considerations for public investment policy, including involving the private sector, and describes how the United Kingdom has implemented a strategy to deliver an increase in public investment while maintaining a sustainable fiscal position.

Suggested Citation

  • Pietro Toigo & Robert Woods, 2007. "Public Investment in the United Kingdom," OECD Journal on Budgeting, OECD Publishing, vol. 6(4), pages 63-102.
    • Handle: RePEc:oec:govkaa:5l4tdz40lglt
    DOI: 10.1787/budget-v6-art21-en
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