I am trying to work out how the 40% is calculated, and have come unstuck!
Actually I'll clarify first that reading Wikipedia this isn't Gordon Brown's rule at all, but one that he has adopted from Adam Smith.
So net debt needs to be below 40% of GDP, but where do I find the figures that are used to work this out?
This is out of interest really - I want to have a clearer understanding of how it supposedly works (or maybe doesn't work!).
David Evans
7th Aug 2008
0
An economics question - how is Gordon Brown's 'Golden Rule' calculated?
An economics question - how is Gordon Brown's ...