(For the purposes of this discussion let's just take it as read that it's necessary and/or good to reduce debt). The target of course is deliberately stupid - it's always at the end of a 5 year rolling period - so you never need to reduce debt at all. The only restriction it gives is that you have to make things add up in the future, but when they actually come closer you can ignore it. This is particularly good for a chancellor/PM who get praised for cancelling tax rises that they were never actually intending to implement. Fuel duty escalator for example they leave in the plans in theory, to help it add up, then suspend it every year.
It is unforgivably stupid that the CST - a role that in terms of practical impact on policy in the country is second to probably nobody but the chancellor -doesn't even understand their own deliberate trick on this.
(For the purposes of this discussion let's just take it as read that it's necessary and/or good to reduce debt). The target of course is deliberately stupid - it's always at the end of a 5 year rolling period - so you never need to reduce debt at all. The only restriction it gives is that you have to make things add up in the future, but when they actually come closer you can ignore it. This is particularly good for a chancellor/PM who get praised for cancelling tax rises that they were never actually intending to implement. Fuel duty escalator for example they leave in the plans in theory, to help it add up, then suspend it every year.
It is unforgivably stupid that the CST - a role that in terms of practical impact on policy in the country is second to probably nobody but the chancellor -doesn't even understand their own deliberate trick on this.