I’m seeing lots of variations on ‘how can the Tories criticise Labour’s borrowing plans when debt has risen by £800 billion under their watch?’. But while there may indeed be good reasons to criticise the Conservatives' track record on fiscal policy, the increase in public debt is not one of them. It might help to … Continue reading Does the increase in public debt mean that ‘Tory austerity’ failed?
Here is a presentation I gave on 9th October at a schools conference, covering topics such as austerity, fiscal multipliers and quantitative easing... Schools presentation on fiscal and monetary policy 9 Oct 2019
In a thought-provoking blog for the New Economics Foundation (NEF), Alfie Stirling has made the striking claim that the cumulative effect of austerity since 2010 has been to reduce the level of UK GDP in 2018/19 by 4.7%, or almost £100 billion. This is equivalent to “around £1,500 for every woman, man and child this year alone”. … Continue reading Is the UK economy £100bn smaller because of austerity?