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ARTICLE · 27 NOVEMBER 2013

Money For Nothing

Jersey Finance Limited
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Policy Exchange have published an excellent paper today on fiscal prudence and claim that 'the UK will continue to have one foot hovering precariously over a fiscal abyss unless the next government draws up a strong set of rules to tackle the £1.1 trillion national debt.'

United KingdomGovernment, Public Sector
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Policy Exchange have published an excellent paper today on fiscal prudence and claim that 'the UK will continue to have one foot hovering precariously over a fiscal abyss unless the next government draws up a strong set of rules to tackle the £1.1 trillion national debt.'

Money for Nothing, goes on to argue that 'new fiscal rules should bind future governments to a spending envelope based on reducing the UK's debt-GDP ratio to a sustainable level. It is currently projected to exceed 100% of GDP by 2015, the highest level since modern records began. Strict penalties would be put in place to ensure that politicians stayed within the rules including automatic nominal freezes to public sector pay, the state pension and benefit payments.

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