But by specifically telegraphing policy, the Fed has now given cover to the most parasitic elements of the financial sector to undertake transactions that offer no economic benefit to the nation.

FORBES: Fed Pledge Let's You Know The Fix Is In

Lord Freud said the government would offer to legislate for two biennial reviews on the performance of PIP, and commit to undertake a third if the second review demonstrates ongoing problems that need to be addressed.

BBC: Government wins disability benefits vote