It also would be reflected in a balanced budget, excluding interest payments on the debt.
Italy's is very high, at 120% of GDP, but it runs a primary surplus (ie, excluding interest payments).
Our goal is roughly 3 percent of the economy, which would balance the budget, excluding interest payments on the debt.
While these are taking place, there would be no bail-out money to fill the hole in Greece's primary budget (ie, excluding interest).
To boost its primary budget surplus (excluding interest payments), the government now includes in its accounts revenue from the Central Bank and the pension system.
He also predicted that as a percentage of GDP, primary current expenditure (excluding interest payments and capital spending), which in 2008 reached its highest level since the second world war, would rise by a further three percentage points in 2009.
To get the rest of the way there will require a bipartisan process, which is why we are calling for a bipartisan fiscal commission tasked not only with addressing our long-term fiscal imbalance, but also producing plans that will balance the budget, excluding interest payments on the debt, by 2015.
For example, if the structural primary balance (budget balance excluding debt interest) in 2015-16 turns out to be only one percentage point better than the OBR now expects, our public sector debt would now be on a long term sustainable path.
Before April's election Deputy Le Lievre served on the Social Security Department and said he wanted to restore the previous regime of increasing pensions by RPIX - a measure of inflation equivalent to the all-items Retail Price Index, but excluding mortgage interest payments - plus 1% each year.
BBC: Guernsey deputy wants further pensions and benefits rise
In his lecture Mr Brown, who created the committee and told it to keep inflation (excluding mortgage-interest payments) at 2.5%, got his retaliation in first.
EU. Excluding mortage-interest payments, the rate of inflation fell from 2.3% to 1.8%, a 25-year low also touched in November and well below the 2.5% target set by the government.
Unemployment has continued to tumble, to far below the point previously thought consistent with stable inflation, yet inflation (excluding mortgage-interest payments) is bang on the Bank's target rate of 2.5%.
If there is no sign of a rise in the core rate of inflation (excluding energy prices), then there is no need to raise interest rates.
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