The "rules" were themselves political, not some sort of economic theory.

They were there so that the City took New Labour seriously.

If putting tax up meant losing the next election, expect borrowing to rise.

Note this is not a critique on Brown or Labour, more of the expediant policies used by all governments.

Posted By: BeverlyHills0201 on May 6th 2005 at 14:31:43

Message Thread

FAO oh arr - for your information (General Chat) - Tricky Hawes, May 6, 13:50:49
- Tricky - I do know the difference between the National Debt (General Chat) - oh arr, May 6, 15:07:17
  - You obviously don't...... (General Chat) - BeverlyHills0201, May 6, 15:13:21
    - PSBR or not to PSBR - ok define PSNCR for me ! :) (General Chat) - oh arr, May 6, 15:36:56
      - Public Sector Net Cash Requirement...... (General Chat) - BeverlyHills0201, May 6, 15:40:42
        
        another load of New Labour name change bull* (General Chat) - oh arr, May 6, 15:50:48
- Look at the National Debt in absolute terms ie ?'s (General Chat) - oh arr, May 6, 15:00:08
- Correct..... (General Chat) - BeverlyHills0201, May 6, 14:05:10
  - But....(and large but) (General Chat) - Tricky Hawes, May 6, 14:11:51
    - FAO Tricky - Gordon Brown's rule & implications thereof (General Chat) - oh arr, May 6, 15:32:35
    - Politicians and fiscal rules (General Chat) - Winged Eel Creosote, May 6, 14:14:54
      - fair point (General Chat) - Tricky Hawes, May 6, 14:21:34
        
        At a rate of cutting the PSBR by ?2bn a year (General Chat) - oh arr, May 6, 15:12:52
        
        And it will have to be direct (General Chat) - Pragmatist, May 6, 14:32:12
        
        National Insurance. (General Chat) - BeverlyHills0201, May 6, 14:36:30
        
        No you are wrong (General Chat) - Winged Eel Creosote, May 6, 15:05:27
        
        I think in one of the central government docs they define it as tax on income (General Chat) - oh arr, May 6, 15:16:49
        
        They don't. (General Chat) - BeverlyHills0201, May 6, 15:22:08
        
        You've got that wrong Beverley..... (General Chat) - oh arr, May 6, 15:42:47
        
        Hmmmm....... (General Chat) - BeverlyHills0201, May 6, 15:44:15
        
        No...... (General Chat) - BeverlyHills0201, May 6, 15:11:51
        
        Lol (n/m) (General Chat) - Pragmatist, May 6, 15:02:39
        
        The "rules" were themselves political, not some sort of economic theory. (General Chat) - BeverlyHills0201, May 6, 14:31:43
- although - having read that again... (General Chat) - Tricky Hawes, May 6, 13:52:37

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