As Paul Johnson prepares to leave the Institute for Fiscal Studies, he reflects on significant chancellors in Britain and critiques the current fiscal policy discourse. He acknowledges both positives and negatives of George Osborne's austerity measures, appreciating his clear approach while recognizing long-term damages. Johnson criticizes Rachel Reeves's recent policy changes regarding the winter fuel allowance, expressing frustration with the government’s lack of scale in addressing fiscal issues. He notes a general decline in the clarity and conviction of political leaders on economic matters since Osborne's tenure.
Johnson expresses a baffled frustration at the standard of political debate about fiscal policy and criticizes Labour's approach to the winter fuel allowance.
Despite being critical of Osborne's austerity measures, Johnson praises his clarity of purpose and single-mindedness regarding fiscal policy—something he finds lacking in current debates.
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