Straitjackets are in fashion for our politicians

<p><p><p>Britain's political parties are finally beginning to talk about some of the tax and spending measures that will be necessary to repair the public finances. Of less immediate interest down at the Dog and Duck, but important nonetheless, is how we should reform the institutions through which tax and spending decisions are made, to help to ensure that the repair job gets done and that we can avoid getting into a similar mess again. </p></p></p>