Interesting to read the five points the LP is voting against:
1. It commits every government to running a budget surplus in normal times from 2019 onwards. However since 2010, he has missed his own deficit targets and changing the law won't help him to do any better.
2. Effectively it is a big political stunt from George Osborne so that he has an excuse to keep making ideologically-driven cuts.
3. But it's a dangerous stunt because if the Charter is followed to the letter it binds the hands of future governments, making it illegal to borrow money for investment in infrastructure or housing, even at times when investment would lead to faster economic growth.
4. In fact, the best way to reduce the deficit now is to invest to grow our economy. It’s for this reason that most economists disagreed with George Osborne’s cuts.
5. It could also force a government to keep making cuts, irrespective of the impact they have on public services and working families.
Gransnet forums
News & politics
Join the conversation
Registering is free, easy, and means you can join the discussion, watch threads and lots more.
Register now »Already registered? Log in with:
Gransnet »