To prevent their abuse, Hamilton explained why the Framers believed direct taxes required explicit constitutional constraints, in addition to the general restraining nature of a constitutional arrangement of limiting government solely to delegated powers.

FORBES: The Case Against Direct Taxation: Part One

Here the fund was pretty explicit - the Treasury should buy private bonds to help ease the credit constraints on UK businesses (something Mr Osborne and even Chancellor Darling talked about - but has still not happened).

BBC: IMF: 'Great policies - shame about the economy'