Isitmebut:
Thanks for your response and apologies for taking so long to reply.
I agree that the economic climate determines how easy it is for a government to budget. However, there is a measure of government budgeting which takes this into account: the structural budget balance. This says, basically, that you can measure how well a government
has done in balancing the books, irrespective of how well the economy has done.
The Conservative Party clearly prefers this measures as they set a target for it in their 2010 manifesto. They said that they would reduce 'the bulk' of the structural deficit before the next election (2015).
Unfortunately, this hasn't happened. The strutural deficit has hardly been reduced over the last four years and it is unlikely that it will be reduced further before the next election because of the
pre-election tax reduction/spending hike that the Coalition government is about to deliver (hardly original),
and the fact that the economy is expanding.
www.bbc.com/news/business-25944653
I would say more but a Conservative MP has already said it: www.douglascarswell.com/downloads/after-osbrown.pdf.
The Conservative led government has not improved
public finances over their term. Far from it, they've got worse in terms of the debt the government owes
and the annual overspend. The growth we have now has been paid for on the government's credit card. We all know how this works and ends up.
None of this is that surprising. What grates is the governmment's constant statements that they have done the opposite.
If you're going to tell a lie, make sure it's a big one because no one will believe you would have the audacity to make it up.
The government already has the invoices for the growth we see in the economy; the problem is that British people will have to pay for it
in future with higher taxes. Buying peoples' votes before elections is the oldest trick in the book in politics.
On the wider economic front, the current coalition has been a disaster by their own standards. In their manifesto the Conservatives talked
about rebalancing the economy, boosting exports, rebuidling industry. None of these things have happened.
Don't take it from me.
I invite you to read the first section of the paper written by the Conservative MP.