| Abstract: | A medium-term financial plan was proposed in the October 1977 Economic Outlook. The essential idea was that the government should show that its plans for public expenditure and revenue were consistent with the objective of reducing monetary growth and thereby the rate of inflation in the medium term. The Budget speech of March 26 introduced a Medium-term Financial Strategy. (The word "Plan" is politically unacceptable.) This Viewpoint evaluates the strategy and considers some of the criticisms that have been made of it. |
