1  Cover

      2  Title Page

      3  Copyright

      4  Abbreviations

      5  Introduction Notes

      6  1 Economic Performance 1997–2010: The Brown years 2010–16: The austerity years 2016–20: The EU Referendum and after Beyond Covid Notes

      7  2 Macroeconomic Policy Notes

      8  3 Public Expenditure Brown One: Married to Prudence Brown Two: Prudence jilted? Darling and the financial crisis Osborne: The austerity Chancellor The Hammond years Javid’s short-lived rules Sunak: Covid-19 Notes

      9  4 Tax Policy Labour and tax: 1997–2010 Coalition and Conservatives: 2010–21 The Mirrlees Review Why is tax reform so difficult? Notes

      10  5 Scotland: Saving the Union Notes

      11  6 Europe: The Ins and Outs The euro: failing the tests Semi-detachment The EU referendum: Project Fear Brexit and after Notes

      12  7 Financial Regulation and the City of London The Financial Services Authority The New Bank of England The gathering storm All hands to the pump Financial regulation after the crisis Brexit and the City Notes

      13  8 Climate Change: The Road to Net Zero Notes

      14  9 The Treasury’s Changing Shape Setting the Bank free John Birt’s teddy bear Structural changes Feeble threats Does size matter? Cheap but cheerful? Call a spad a spad Culture Notes

      15  10 Leadership Gordon Brown Alistair Darling George Osborne Philip Hammond Sajid Javid Rishi Sunak Other ministers Permanent Secretaries Notes

      16  11 Trouble Ahead 1. The Treasury View 2. Monetary and fiscal policy 3. Public finance post-Covid 4. Tax policy 5. Levelling up 6. Climate change 7. Productivity