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PM-Chancellor partnerships benefit from a healthy tension

i Newspaper

Will Tanner writes in the i Newspaper about reported tensions between the Prime Minister’s grand spending plans and the Chancellor’s desire to keep finances in check. He writes:

“But the Prime Minister should not want to move his Chancellor at all. The truth is that tension between Number 10 and HM Treasury is a feature, not a bug, of the system. The Treasury’s gearing towards financial probity balances out Number 10’s incentive towards tax giveaways and greater spending. The former is a far-sighted department, focused on future generations of taxpayers and long-term economic trends; the latter is naturally short-termist, focused on delivering for the voters of today and maintaining political capital. These institutional differences increase the quality and ambition of policy.”

Read the full column here.

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