Austerity

Slow British Economy Requires a Decade of Trimming Government, Say Think Tanks

We could use some of the same

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Britain faces a decade of austerity with public spending cuts likely to dominate the next two General Elections, two leading think tanks have warned.

 In a joint study, the Institute for Fiscal Studies and the Institute for Government warned that a further 250,000 civil servants may lose their jobs because of sluggish economic growth.

They said that both the 2015 and 2020 General Elections are likely to be fought on grounds of austerity, and that the situation could worsen with the decline of North Sea oil and the rising costs of healthcare.