United Kingdom government austerity programme
The United Kingdom government austerity programme is a series of sustained reductions in public spending, intended to reduce the budget deficit.
The programme was initiated in 2010 by the Conservative and Liberal Democrat coalition government. Its original stated goal was to, "achieve cyclically-adjusted current balance by the end of the rolling, five-year forecast period." At Budget 2010, the end of the forecast period was 2015-16. However, in 2014 the Treasury extended the proposed austerity period until at least 2018.[1]
See also
- Age of Austerity
- Public Sector Net Cash Requirement
- United Kingdom national debt
References
- ↑ James Kirkup (5 Jan 2014). "George Osborne to cut taxes by extending austerity and creating smaller state". Retrieved 1 February 2014.