Thursday, Mar 01, 2007
Governmental Finances Tightening around Brown's Miracle Economy
BBC News Online: Brown 'faces £20bn funding gap'
Institute of Fiscal Studies gets bearish with the stats. Brown relying on fiscal drag and cutting public spending to balance government finances, article contains nice graph household debt burden as percentage GDP that must look horrendous now compared to 1995 and 2004.
Posted by enuii @ 07:06 PM (158 views) Add Comment
1 Comment
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1. dohousescrashinthewoods said...
If fiscal drag will save his finances, then he will be keen to see as much inflation as he can get away with to drive salaries further and faster into higher tax brackets.
a) Hide it by using the CPI
and
b) keep it near the top end of the MPC's remit
but
c) don't let peoples' inflation expectations get out of control.
Oops. Suddenly everyone's on strike.