I'm making two swingeing assumptions here: 1. There won't be a Labour government after the next General Election. 2. That Labour are driven by the desire to get back into government (at some time). So, The PBR seems at first glance to be a sign of spiteful and restrictive policy drive aimed not at improving the economy, but hamstringing the next administration: There appear to be few measures to reduce spending, but many to increase income. They seem to come into effect in the tenure of the next administration. So, No matter which party comes into power, they will have to deal with the debts and promises of the current government.