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It was estimated that carbon emissions would be cut annually by 1.2m tonnes at no cost to consumers and without reducing GDP.
Here was an examination that appeared to prove that British-style austerity, replicated across Europe at the behest of the Germans, was reducing GDP and making governments borrow more money, not less.
When we did the numbers, it just came out that the effect in terms of raising interest rates and reducing GDP growth will be very, very small," says Walden.
A brief refresher: a summary measure of fiscal impulse (the extent to which fiscal policy is boosting or reducing GDP growth from one year to the next) is the difference between the deficit (or surplus) one year and the next.
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This will actually reduce GDP.
"The corresponding real cuts directly reduce GDP.
Both policies will reduce GDP growth, they believe.
A no-deal Brexit would reduce GDP by 7.7%.
In this case each 1% of GDP of spending cuts would potentially reduce GDP by 2%.
Germany's shrinking workforce could reduce GDP growth by almost half a point.
In fact, that may reduce GDP because we use less fuel.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com