Budget Responsibility and National Audit Bill [HL]

My Lords, like the noble Lord, Lord Eatwell, I was rather struck by the word ““intergenerational”” in the draft charter for budget responsibility. The Treasury’s objectives for fiscal policy are to, "““ensure sustainable public finances that support confidence in the economy””," which is fine, and, "““promote intergenerational fairness, and ensure the effectiveness of wider Government policy””." Can the Minister tell me why we need the word ““intergenerational””? It seems that one of the basic objectives of fiscal policy is to promote fairness and, of course, our coalition agreement holds fairness very high. Why do we need the word ““intergenerational”” here? As it is a draft charter, perhaps I may ask that the word be taken out from the final version.