Here’s what’s clear: public spending is on the rise. Public expenditure ratios have quadrupled since 1870, and increased even more in the recent COVID-19 pandemic.
Is that good or bad? What does responsible public spending look like? How should governments institute reforms in order to improve their public spending agendas?
These questions are less clear. Bruegel’s Director, Guntram Wolff, sits down with Former Deputy Secretary-General of OECD, Ludger Schuknecht to discuss the issues surrounding public spending in post-pandemic economies.