The problem for Ministers is that the case for greater collaboration has always been based largely around the need to make significant savings in publicsectorexpenditure.
The right way is to cut government expenditure, downsize publicsector employment and monetize the debt with a target of 7% inflation for five or so years.
The irony is that until recently the Bank was worried about the obdurate strength of consumer expenditure at a time when the publicsector was turning into a big spender.
That in turn would cause tax revenues for their governments to continue to shrink, such that reducing public-sector deficits would become a never-ending labour of cutting expenditure and raising taxes.
If higher expenditure on public services comes to be seen as payday for public-sector workers, Labour will lose the reputation for prudent economic management which it struggled so hard to win in its early, parsimonious, years.