PracticeAuditTories plan independent audit of nation’s debt

Tories plan independent audit of nation’s debt

George Osborne to outline series of proposals for ‘fiscal responsibility’ at party conference

The Tories are to propose an independent audit of the nation’s debt at this
week’s party conference as part of an action plan for economic recovery.

The audit aims to uncover all hidden liabilities, with a panel of independent
experts holding the chancellor to account on pledges to bring the UK out of
debt.

It is one of a string of fiscal plans that shadow chancellor George Osborne
is putting forward at conference which also includes the formation of an Office
for Budget Responsibility, a new fiscal framework on how the government raises
and spends money, and new powers for the Bank of England on debt in the banking
system, reports the
Telegraph.

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