Quote:
Originally Posted by nomadking
It was still using the term "deficit". If there are two possible meanings for a term in a particular area, eg economics, then a different term should be used for each meaning, or use of the term is preceded by another word to distinguish its full meaning.
Ed Milliband thinks things should be measured against GDP.
So according to Ed Milliband, not borrowing means ALWAYS borrowing, even when there is a budget surplus. |
Admittedly I only had a quick scan through the odious Mr Miliband's speech but I didn't see any reference to GDP as a ratio for measurement in relation to the deficit.