Fiscal space, public deficit, debt-to-GDP ratio – wait what? How to talk about progressive fiscal policy in a way that everyone understands
Fiscal space, public deficit, debt-to-GDP ratio - wait what?
How to talk about progressive fiscal policy in a way that everyone understands
15 October 2021
10:30am – 12:00am (CEST)
The experience of the pandemic has vividly exhibited the central role of expansionary fiscal policy in stabilising the economy in crisis times. Also for progressives, a new window of opportunity has opened up to realise the potential of expansionary fiscal policy in implementing the European Pillar of Social Rights, the 2030 Sustainable Development Goals, or the European Green Deal. Having learned the lessons from the financial crisis in 2007/2008, activating the General Escape Clause of the Stability and Growth Pact by the European Commission was a necessary response to the crisis. However, the current discourse on fiscal policy lacks a communication strategy and metaphoric language that explains progressive fiscal policy in a way that everyone understands. How can we overcome the old technocratic language and find a metaphoric language that serves the goals of progressive fiscal policy? This session will explore the critical role of language in utilising the potential of expansionary fiscal policy to shape the socio-ecological transformation.