FIRST AIRED: June 10, 2015

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00:00:00
fresh from a decisive election victory and with a spring in his step , the u. k. chancellor is ready to dust down his deficit cutting credentials , george osborne set to announce plans to force feed , governments to run a surplus when the economy is in good health , right he's breaking views columnist george hey believes it'll put u. k. fiscal flexibility in a novel straight jacket through this is quite similar to germany's cycle that break and was they go in a couple years ago and the similarities that sir using legislation , the chancellor will announce the measures in his annual speech at mansion house on wednesday nights , politically he is on safe ground , the tories won a surprising majority in last month's general election , they argued that a grinding recession was caused by the previous labor governments excessive borrowing , but the i. m. f. has warned the u. k. that its economy might be better off if the government reduces debt levels relatively slowly , so much if you're running a deficit is just what that deficit , full if it's being used for example to finance investment or to make a recession slightly less m. hoss and they will generally recognized as a good thing so the idea of joining that leads legislation to going to stop you on the deficit is suspects idea for most economists , was born believes britain risks being courthouse if the world economy sours , especially with national debt exceeding eighty percent of g. d. p. around double its level before the financial crisis , british voters it seems , agree with him