Definition: The fiction that comes out of the Chancellor of the Exchequer’s alimentary canal.
This is a play on the phrase, “Fiscal Rectitude”, which are some words mouthed by various Chancellors over the years, meaning “We will stop spending on the poor, the needy, the sick and disabled and ensure that those much more well off are made even more well off.”
(Surely that it not what it means - Spokesperson for the Chicago School of Economics ed)
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