Fiscal Policy

Fiscal policy is central to governing for health. It determines what resources are available, largely via taxation, to invest in health and well-being, and how equitably and effectively national resources are allocated. The decisions made by treasurers, finance ministers, and chancellors of the exchequers are vital to health, yet this is rarely recognized, and the economic sphere is treated as if it were somehow separate from the rest of society. This chapter argues that in order to govern for health, this view has to change, with economic decisions made to serve the health and well-being of society. In making this argument, the chapter starts with a consideration of the health-damaging effects of neoliberalism and then asserts and examines five action points that would lead to fiscal policies that support health and well-being.