Why do fiscal rules stop progress in the UK?
Fiscal rules are not laws of economics. They are political straitjackets designed to stop change. Every Chancellor since Gordon Brown has used them to limit public spending, block climate action, and enforce permanent austerity. The result? A weaker NHS, failing schools, inadequate housing, stagnant wages, and rising inequality. It’s time to abandon fiscal rules and rebuild democracy with fiscal freedom. 00:00 – Why fiscal rules stop everything 00:45 – What are fiscal rules really? 01:30 – Gordon Brown, Reeves, and neoliberal orthodoxy 02:15 – Fiscal rules block investment and public services 03:05 – The real-world damage: NHS, schools, housing, wages 04:00 – From despair to the far right 04:45 – Fiscal rules are political choices, not necessity 05:30 – Money isn’t scarce — people and resources are 06:10 – Breaking the straitjacket: fiscal freedom for democracy .
Credit to : Richard J Murphy