[DemolitionRed]

Originally Posted by bitontheslide

The whole point of the measure is to stop the country being put in to debt by over spending during a period of growth. This would ensure that we didnt have a recurrence of what happened in the Blair years where money was squandered and wasted, pushing us into debt and without a capability to deal with the economy when times are tough ... ie saving for a rainy day. We all have to do it, its called being responsible. That's what labour have done the U-turn on supporting. They are basically retaining the right to continue overspending, just like all previous labour governments have done in the past.

Labour didn't get in at the last election primarily because the british public had no confidence in them being able to manage the economy. No lessons have been learned, and labour are heading for another epic fail.

Unfortunately, most people look at the fiscal budget the same way they look at their personal domestic budget. Osborne relies on us doing just that because it’s a guaranteed way of making ‘budget surplus’ look like a good thing.

To have a government surplus we would have to push debt into the private sector and that will hurt growth and increase our personal debt.