National News

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What is wrong with the Chancellor's Autumn Statement

There are three huge defects in the Chancellor's autumn statement 1 Technical The Chancellor fundamentally believes that the government budget can and should be balanced, or even run in surplus. This basic accounting assumption drives his whole thinking. But facts prove him, and the traditional thinking of the whole financial establishment, wrong on this. He has been unable to eliminate the deficit. He will not be able to eliminate it. In modern high technology, high productivity economies, deficit is inevitable, and manageable.

GC
28 Nov 2015
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