Osborne's new framework is a joke, but reveals the contempt the Conservatives have for the democratic will of parliament. Any future (chartalist) government will be able to revoke the framework, returning the Treasury to a subordinate position. Until then, British democracy will have been weakened by the arbitrary, self-imposed "rules" that serve only a few and narrow interests.
In the last year of my twenties, the recession hit at the same time as I took a marketing position in the financial services sector. It made me realise that living in financial airy fairy land is not conducive to a healthy, happy life. My thirties have been spent trying to undo the damage I did the decade before.
The UK's stress and personal debt statistics speak for themselves. And the way things are right now, they don't make for a pretty sight. The long cycle of downturn to recovery doesn't feel like it's fully over yet. Maybe reading the news headlines hasn't helped my optimism - they do have a tendency to relay information in a brutal and stark kind of way. Here are some examples of this very phenomenon in action:
Why on earth would you want to cash in your entire pension pot at age 55 when all the statistics point to you living well into your 80s? For many people, the answer is that you would be crazy to do so - you should leave the pot alone to let it grow and be thankful you will have a pension to fall back on when you reach 65.
This makes the coming weeks potentially rather dangerous for investors and traders as geopolitical uncertainty increases. Already we have been seeing an uptick in volatility, not just in sterling, but across FX markets as a whole and if the result from the General Election continues to look like there is going to be no clear winner then things could become even more volatile.
Another big announcement was the creation of an entirely new ISA for those looking to get on the property ladder. The Help to Buy ISA can be used by first time buyers with the benefit of the Government adding £50 to every £200 deposited up to £12,000 annually. This means that those buying their first property could get a £3,000 boost.