In her spring statement the chancellor argued for fiscal discipline. That’s understandable. The OBR says borrowing will fall and that the “headroom” against her self-imposed rules has increased. Her message was that Britain needed “stability”. The logic is that discipline reassures markets, and that keeps borrowing affordable. But markets constrain the UK only insofar as its institutions let them. If energy prices spike, the economy suffers a drop in real income. The question is: who soaks up that loss? Households, firms or the state, via higher deficits? Privileging fiscal credibility might signal that she prefers households to absorb the shock rather than the state.
MiniMax，能否撑起这样的期待？
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H.P. Lovecraft – The Call of Cthulhu。业内人士推荐谷歌浏览器下载作为进阶阅读
Lauren Forristal
Англия — Премьер-лига|29-й тур