UK should replace fiscal rules with ‘traffic light’ system, says think-tank

A UK think-tank suggests replacing the current fiscal rules with a 'traffic light' system, utilizing up to 10 indicators to improve policymaking, as the current system is deemed 'dysfunctional'. This proposal aims to provide a more comprehensive and nuanced approach to fiscal policy. The Office for Budget Responsibility (OBR) would be responsible for producing these forecasts.