#fiscal-sustainability

#fiscal-sustainability

The warning comes from the National Institute of Economic and Social Research (NIESR), which said a zero net migration policy would shrink the economy by 3.6 per cent by 2040 and reduce the workforce by around 2.5 million people compared with current forecasts. The result, it argues, would be a £37bn deterioration in the public finances unless offset by higher taxes or cuts to public spending.

Emmanuel Macron has performed a humiliating U-turn and agreed to suspend his pension reform in order to avoid another collapsed government - his surrender will ultimately harm France, says John Lichfield. A French economist won a share of the Nobel Prize this week for his work on creative destruction. The country has chosen another path - destructive immobilism. In 2023 Macron won a pensions victory on behalf of the French people but against the will of the French people.