2010 Tories Call for Balanced Budget Legislation

Guido was a little distracted yesterday and missed Balls’s mea culpa in the House. While his spiel about  being deeply sorry for “the part that I and the last Labour government played in the global regulatory failure” is welcome, it isn’t quite the apology many were looking for – mainly Balls begging for forgiveness for racking up a huge deficit in the years of plenty. As backbench Tory scribe Kwasi Kwarteng puts it: “experience shows that we can’t trust politicians to restrict spending increases by themselves.”

Writing in the Telegraph to PR the 2010 intake’s After the Coalition book, Kwarteng suggests a solution to drunken sailors like Ed Balls:

“Britain should follow the example set by the Swiss and the Germans: we should introduce our own balanced budget rules. When our economy is booming, our government spending should be in surplus. Only then will we be able to afford the unavoidable higher benefit bills and lower tax revenues that drain the national finances during a recession.”

While Guido is a fan of the idea, Kwarteng might want to have a word with the Chancellor who has yet to argue for more than a reduction in the speed at which the state is over-spending, rather than a meaningful reduction in spending.




Tip offs: 0709 284 0531
team@Order-order.com

Quote of the Day

Boris on Osborne and Project Fear:

Unemployment has fallen by 250,000 to a new low of 4.2 per cent while record numbers of jobs have been created – including no fewer than 8 for the former chancellor and chief architect of project fear who has become a glorious living rebuttal of his own preposterous warnings.”

Sponsors

Guidogram: Sign up

Subscribe to the most succinct 7 days a week daily email read by thousands of Westminster insiders.
US Ambassador on Sadiq US Ambassador on Sadiq
Question Time’s £450,000 Gender Pay Gap Problem Question Time’s £450,000 Gender Pay Gap Problem
Riot Convicted Bastani on “Public Nuisance” Riot Convicted Bastani on “Public Nuisance”
Press Gallery Welcomes: Thornberry Press Gallery Welcomes: Thornberry
Labour Candidate on “Holocaust Mongers” Labour Candidate on “Holocaust Mongers”
Lansman to Discuss Corbyn Anti-Semitism “Smears” in Israel Lansman to Discuss Corbyn Anti-Semitism “Smears” in Israel
WATCH: May Speech Brings About Policy Exchange Collapse WATCH: May Speech Brings About Policy Exchange Collapse
Tories Make Sick Labour MP Vote in Wheelchair Tories Make Sick Labour MP Vote in Wheelchair
Leaked Emails Show DfT Lied About Northern Rail Leaked Emails Show DfT Lied About Northern Rail
Alan Sugar Tries to Get Sacked from BBC Alan Sugar Tries to Get Sacked from BBC
May Considers Asking to Stay in Single Market for Goods May Considers Asking to Stay in Single Market for Goods
Smith Must Hold Firm Against Grieve Smith Must Hold Firm Against Grieve
Eurotunnel: Don’t Buy Border Scaremongering Eurotunnel: Don’t Buy Border Scaremongering
CCHQ Defaced With Anti-Heathrow Graffiti CCHQ Defaced With Anti-Heathrow Graffiti
Labour Parliamentary Candidate Distances Herself From Rothschilds, ‘Zion Scum’ and ‘Fake Jews’ Tweets Labour Parliamentary Candidate Distances Herself From Rothschilds, ‘Zion Scum’ and ‘Fake Jews’ Tweets
Saj: Time to Review Scheduling of Cannabis Saj: Time to Review Scheduling of Cannabis
Sally Bercow: We’re Not Packing Bags Yet Sally Bercow: We’re Not Packing Bags Yet
Shouty Cracker Lord Moat’s Mask Slips Shouty Cracker Lord Moat’s Mask Slips
Jolyon’s Mystery £100,000 Donor Jolyon’s Mystery £100,000 Donor