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The Charter for Budget Responsibility and the Fiscal Responsibility Act of 2010

The Charter for Budget Responsibility and the Fiscal Responsibility Act of 2010 Osborne’s ‘Charter for Budget Responsibility’ bears a remarkable resemblance to Gordon Brown’s Fiscal Responsibility Act. Both seek to bind government spending to tight rules in the face of an unknowable future. Both were and are political gimmicks. Osborne’s Charter, like Brown’s Act, is unenforceable; no penalties will be incurred when it is inevitably broken.  [continue...]

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