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Features

Now is the time for the Tories to be borrowing more

16 November 2019

9:00 AM

16 November 2019

9:00 AM

How should fiscal conservatism be defined? George Osborne inherited a fiscal deficit that was clearly unsustainable. During the panic over the possibility of a global depression and concerned for his electoral prospects, Gordon Brown had massively inflated government spending. Only Alistair Darling prevented more excess. As Chancellor Osborne said, there was no choice but to retrench: his expression was ‘there is no Plan B’.

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