Damien

It's obvious politicking. It's stupid to constrain chancellors like this and Osbourne himself isn't exactly too concerned with borrowing especially when the rates are so low. It's also not really possible as you can't constrain further parliaments - there is no mechanism with which to do it. Obviously it's politically awkward to revoke the law but if needs must then so be it. Hell it might not even last the Parliament if any hiccups should occur in the meantime and the chancellor feels he needs to use the full range of actions available to him including ones he has short-sightedly sacrificed for political gain.

It's like when Labour introduced the 50p tax just so they could accuse the Tories of giving them a tax cut when they revoked it. It's a trap for the opposition is all.