Austerity

[TheSultanofPingu]

So, we have recently come out of ten hard years of austerity following the 2008 financial crisis. Anything regarded as frivolous and loads more besides, slashed. "We need to do this to get back on track!" we were told.

Now, the country's finances are in dire straits, which is hardly surprising.
Probably as bad as they have been for a long time. Boris Johnson has declared "No austerity! We need to spend on infrastructure, schools and other stuff to boost our economy again!" Now I agree that's fantastic, but why wouldn't this have worked ten years ago, following the crash?
Cuts to essential services, school building projects etc stopped almost overnight.

I know I'm probably looking at this in a very simplistic way, but it does make me think that the ten years of austerity was introduced for the wrong reasons.

It absolutely was. I think it was the oecd that said that the cuts took the legs out from under the recovery and did more harm to the economy. But somehow the narrative that labour spent too much and was irresposible and caused the crashed was never effectively challenged, so everyone swallowed it.

I absolutely believe that the cuts did more harm than good Strictly.
If people have less money to spend, the economy will stagnate.

Oh, it's ok, he's speaking now and has explained it. It's because we've 'moved on' from 2008.

Because we have reduced our defecit spending so we can actually introduce keynsian economic model that we couldn't do after the financial crash.

The UK wasn't the only country to introduce austerity and it was a requirement of being a member of the eu that our defecit spend wasn't as high as it was so we had to make moves to address this.

I thought exactly the same op

We should thank Mark Carney for an awful lot for the way he ran the Bank of England and extra measures that were put in place in advance of Brexit.