This fiscal rule would leave governments free to borrow for infrastructure investments – but day-to-day spending would be paid through your and my taxes.
Economically, it could be transformational, as it has been in Norway, which established its fund back in the early 1990s. It is now worth over a trillion dollars.
Thatcherite on the economy and Europe. Macmillanite on housing and saving. Carswellian on governance – but lacking popular input on constitutional reform.
Home ownership first. New garden cities. Scrap HS2. Repatriate immigration control. Reform pensions tax relief. Higher NIC thesholds. English home rule. Internet voting.