It is impossible to accurately measure the cyclical or structural deficit of an economy because trade cycles are not regular and the output gap is difficult to measure
Spending on long-term projects or buying of long-termassets that have long-termawards such as the HS2 railway, schools, hospitals, defence, infrastructure
If a government is in financial difficulties, it needs to run a primary surplus at least equal to debt interest payments to avoid increasing the national debt
It is possible for a government to increase its borrowing substantially but the total amount of interestpaid on its National Debt to fall if it is able to refinance part of its debt at muchlower rates of interest
National Debt is not prioritised for repayment because the cost of financing thedebtis moreimportant, and the realvalue of the debtdeclinesovertime due to inflation