Osborne's 'Baseline Theory' May Box In Labour on Budget Plans
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The baseline theory explains British politics fiscal policy baselines set by one party become the expectation for the next.
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Osborne believed media/voters treat budget numbers as a baseline. Deviations require justification.
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As Chancellor, Osborne used this to attack Labour in 2015 for not matching Tory spending cut plans.
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Now, Tories may set a pre-election baseline to limit Labour, then change post-election.
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Labour's Reeves is sticking to the Tory fiscal path due to baseline theory and tight finances.