The study looked at how different types of government spending and taxes affect the UK economy. They found that government spending on things like public services and infrastructure has the biggest positive impact on the economy in the short term. Over the long term, taxes on capital income and public investment have the most significant effects on GDP. When interest rates are low, taxes on consumption and government spending are the most effective tools for boosting the economy. In a small open economy, fiscal policy is less effective. Overall, public spending and consumption taxes work better than income taxes to stimulate the economy.