Toby Young has been given plenty of stick for an article which asked whether the UK government has overreacted to the coronavirus crisis by locking down the economy, and which concluded that it had. In my view, he was right to pose the question, but gave the wrong answer. The thrust of his argument is … Continue reading Is it worth it?
Tag: Fiscal Policy
Is the UK economy £100bn smaller because of austerity?
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?
Plain-speaking Economics 