Would Interactive Democracy scupper the Bank of England's own brand of tough love? Would the electorate demand control over Interest Rates? Could they demand public sector pay rises? Would they be im-prudent?
Again, the principle of leadership is essential in educating voters to make the most sensible choices. However, if such issues were to be addressed by referendum, its outcome may be less than clear, leaving the markets guessing about the result and separating these issues from Party Politics and electioneering in much the same way that the Bank of England does with Interest Rates today.