The authors are Reuters Breakingviews guests columnists. The opinions expressed are their own.

By Ian Ball, John Crompton and Dag Detter

July 21 (Reuters Breakingviews) - John Healey inherits rising spending, higher debt and weak growth. The answer is not loosening fiscal rules but measuring British government assets and non-debt liabilities – and showing that public money can build economic capacity, argue Ian Ball, John Crompton and Dag Detter.

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Ian Ball was one of the architects of New Zealand’s public financial management reforms and later served as chief executive of the International Federation of Accountants. John Crompton is an investment banker and former HM Treasury official and adviser. Dag Detter is principal of Detter & Co.