And as for use of the word "austerity"... What austerity?
Only the sick and poor - many of them working poor - are experiencing austerity. If you're at the upper or property-owning end of the economy, the champagne continues to flow.
The UK has for a couple of decades been restructuring into an hour-glass economy, with the flight of the bulk of middle-tier jobs to offshore centres, leaving the highly paid jobs, and the low paid jobs.
Bearing in mind that this is the new shape of the economy, we get to chose what sort of country we live in. A Victorian shape, where there's plenty of money around but life for those forming the bottom tier is unbelievably cruel? Where, for example, the poorest shell out a huge proportion of their meagre earnings in rent to the leisured property-owning classes.
Or a more humane shape where we recognise that the economy needs some people to do the bottom jobs, that not everyone is going to be a higher earner, and tries to allow that to happen as humanely as possible?