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Amendment of the law

I am one of those who say that if we are to rip up the public balances, we had better make sure that we do it with a comprehensive strategy in place. We have not seen such a strategy from the Government. I advocate a radical fiscal expansion on the Obama model, which is based on long-term investment in the economy. David Blanchflower has made a similar point, as has the National Institute of Economic and Social Research. We have not seen that from the Government; nor have we seen the Conservative line of retrenchment and a more targeted approach. What we have seen is something in the middle, which amounts to nothing at all.