The chancellor’s plans,announced in his Mansion House speech, for “permanent budget surpluses” are nothing more than an attempt to outmanoeuvre his opponents (Report, and 10 June). They have no basis in economics. Osborne’s proposals are not fit for the complexity of a contemporary 21st-century economy and,as such, they risk a liquidity crisis that could also trigger banking problems, and a topple in GDP,a crash, or all three. Related: Academics attack George Osborne budget surplus proposal Continue reading...
Source: theguardian.com