#Ready4Rishi & #Hunt call for tax increases and spending cuts which risk causing a spiralling recession plus worse 'austerity' than under Cameron & Osborne is all driven by an entirely arbitrary figure conjured up by the #OBR namely the £60 Bn 'black hole'
But ..
But ..
This gives the entirely false impression that there is some objectively measurable deficit in the public accounts which needs to be filled, resembling an overdraft on a personal bank account !
What matters is the debt/GDP ratio and #UK has the 2nd lowest in G7 after Germany
...
What matters is the debt/GDP ratio and #UK has the 2nd lowest in G7 after Germany
...
The OBR actually calculates the 'black hole' against an arbitrary target set by Chancellors ...
... so Hunt/Sunak could just adjust the fiscal rules, the most recent of which were set by George Osborne, who himself changed them from what was set by Gordon Brown !
@Conservatives
... so Hunt/Sunak could just adjust the fiscal rules, the most recent of which were set by George Osborne, who himself changed them from what was set by Gordon Brown !
@Conservatives
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