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Government abandons its own golden rules on borrowing and debt...

You might remember that about ten years ago, when the current government was elected, Gordon Brown made a big deal about his strict new rules for government borrowing which were all part of his ‘no more boom and bust’ promise. Anyway, now that we’ve come to the end of the biggest boom in British history and are teetering on the precipice of the biggest bust in British history, Alastair Darling (the guy who replaced Brown when he got bumped up to Prime Minister) has decided that those rules aren’t quite as cast iron as they used to be. Neatly sidestepping the whole issue of the government’s abject failure to deliver on one of its key promises and abandoning...

posted on: Oct 29, 2008 | author: Lance