National Institute Economic Review

National Institute Economic Review: July 2006

The <i>National Institute Economic Review</i> is the quarterly journal of the National Institute of Economic and Social Research, published quarterly in January, April, July and October of each year. Each edition includes detailed forecasts of both UK and World economies, commentary on current issues, a comprehensive statistical appendix and articles by NIESR researchers and external authors.

Public sector performance: Introduction

The performance of the public sector affects us all. There are at least three reasons why we should be interested in how well it functions: it is big; its outputs are special; and it is getting bigger. The public sector represents a sizeable portion of most industrial economies. In the UK public sector current expenditure represented 38.5 per cent of GDP in 2004/51 (HM Treasury, Public Finances Databank) and it is projected to rise to 39.6 per cent in 2006/7.