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Zack Polanski has called for the UK to replace its “failing” budget rules with “fiscal referees”, as he set out his vision to “end rip-off Britain”.In his first major speech on the economy since becoming the Green Party leader, he said Sir Keir Starmer’s Government must break out of the “bond market doom loop” under which he said the fiscal framework is overly sensitive to market movements, which in turn generates policy uncertainty and exacerbates instability.Mr Polanski set out how a Green government would revamp the framework, as “decades of fiscal tightening, often to meet fiscal rules, have meant stretched services, and people suffering”.

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00:00We live in rip-off Britain, an economy built to reward the few off the work of the many.
00:07UK fiscal forecasting currently relies on rigid fiscal multiplier assumptions
00:13that constrain effective government policy.
00:16By assuming spending multipliers expire after just five years,
00:20the current model is prioritising short-term fiscal targets
00:24over the longer-term economic and social gains that targeted spending could achieve.
00:30The sum of all of this is that successive governments have hemmed themselves in
00:35with an economics that denies people the services they require and support they rely on,
00:40often to placate a set of arbitrary rules.
00:43It is ridiculous.
00:46We need to think again.
00:48The government should change these failing fiscal rules
00:51and opt instead for fiscal referees.
00:55This is a panel of experts tasked with judging debt sustainability,
01:01which includes not only making sure the government isn't spending too much,
01:05but also ensuring they're not spending too little.
01:08This is closer to the model used in Australia and New Zealand.
01:12And after almost 16 years, we need to look again at the OBR.
01:18It was born of promises to eliminate the deficit,
01:21and take urgent action to reduce debt.
01:25I don't know if you've noticed, but it's clearly failed.
01:27So you're still waiting for balance for us to have three years for our to support.
01:27The team sure that you put these customers thatenses in the future,
01:28A puede thing like тради motel ,
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