George Osborne, the Chancellor of the exchequer, has put forward plans to make it illegal for any future government to run a deficit.
It is pretty obvious to any voter that running a deficit is bad but George Osbornes plans are just hot air!
Part of Parliamentary rules is that no government may limit the powers of future governments, in law anyway.
So, Osborne's grand plan is somewhat un-constitutional, although of course we don't have a Codified Constitution because it limits the power of the legislature- Parliament.
In other words, his plans are poppycock, although good in theory.
Also, it is somewhat dangerous to limit a government from having a deficit. What happens if the government needs a lot of money at some time? The answer would be no!
What happens if another costly war, in money and men, comes around. We wouldn't be able to afford it because we couldn't run a deficit.
So, yes. His plans are good in theory and I would agree that the government of the day should rarely be running a deficit, if ever, but it is dangerous and UN-constitutional to limit the power of future Parliaments!
TGD
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