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George Osborne’s fiscal strategy is based on trust

First published: Prospect, 30/11/2015

The Chancellor understands the importance of appearing both competent and, at times, benevolent

The economic run-up to Christmas includes an ECB meeting this week, the Bank of England’s Monetary Policy Committee next week, and the Federal Reserve the week after. The first and the last, at least, are expected to set tongues wagging. This week though, something a bit different, but no less important.

It isn’t easily measurable, takes a long time to build, and can be gone in the blink of an eye. It’s trust. Enduring success in business depends on it. Economies only develop and progress if they evolve robust institutions commanding the trust of citizens. Politicians crave it….Read more: