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Charter for Budget Responsibility

Part of Oral Answers to Questions — Treasury – in the House of Commons at 12:00 am on 1st March 2016.

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Photo of Greg Hands Greg Hands The Chief Secretary to the Treasury 12:00 am, 1st March 2016

The IMF has been clear in its endorsement of the charter for budget responsibility:

“The transparency of the new rule—with a focus on headline balances and a simple and well-defined escape clause in the event of very low growth—is welcome.”

It goes on to commend us on having the “appropriate level of flexibility” in the charter. In respect of any external advisers that are taken on by the Labour party, it would appear from this morning’s The Sun that Labour MPs are extremely unhappy—