If deficit exceeds 3% percent of GDP, MPs become ineligible for re-election.

Background

If there is a spending deficit of more than 3%, in efforts to curb national borrowing, do not allow sitting Government ministers the ability to re-run as an MP for the remainder of their lifetime.

Additional details

Our national debt is out of control. In 2024–25, the UK government is expected to spend 7.3% of its total public spending purely on debt interest. In 2023/24, government revenue – from taxes and other receipts – was £1,098 bn while government spending was £1,230 bn. The deficit was therefore £131 bn, equivalent to 4.8% of GDP. At 4.8% of GDP, the deficit was the UK’s seventeenth largest in the 76 years since 1948. We need those in power to be held to account, not career politicians.