01st Jul 2011 - At long last, a bill to cure overspending
At long last; a bill to cure overspending
I read the paper this morning to read the first bit of sensible news in a while. The National Debt Cap Bill is being debated in The Commons this month. This bill, if successful will bring into law a limit on what any government can spend as a percentage of the GDP. This is great news as in theory it should prevent any future governments over spending and bring longer term stability to the Treasury’s finances. Now it’s time to see what limit they agree on. Let’s hope it’s not too high or this will defeat the object. This also means that when times are good Governments will have to save. The impact on us is quite clear; once the current debt is brought under control future generations should not face the same.
This is a world full of thoughts; what’s yours?
David Archer
