Will the British Government ever learn?

[Mkuki]

Has austerity ever worked?

[Mike the Progressive]

Has austerity ever worked?

No, it's a politically easy move to spend and do little with the hopes that somebody else will.

[Eoghania]

"From fiscal year 1900 to fiscal year 2011" - doesn't state inclusive or exclusive. Reading your source, as noted in the corner of the graph, the values for 2010 onwards are all, explicitly, predicted. Presumably on the grounds that the government would follow current best economic theory. They haven't.

The continuance of the graph past the notch 2010 would seem suggestive to me. Admittedly I clicked through to the briefing when I should've posted the other charts (that were total spending rather than by GDP).

Equally they aren't adjusted for inflation (which I'll dig up if I have the time, and would love for someone else to post). With inflation running at the ~3% range you'd end up with a graph flattened out or a small downward move. But not massive cuts by any means.

It's right there on the site, under your charts. "Central spending after 2010 is planned. Local spending after 2010 is “guesstimated.”"

[Democratic Koyro]

Has austerity ever worked?

No. Its a fancy word for political laziness.

[Forsakia]

The continuance of the graph past the notch 2010 would seem suggestive to me. Admittedly I clicked through to the briefing when I should've posted the other charts (that were total spending rather than by GDP).

Equally they aren't adjusted for inflation (which I'll dig up if I have the time, and would love for someone else to post). With inflation running at the ~3% range you'd end up with a graph flattened out or a small downward move. But not massive cuts by any means.

It's right there on the site, under your charts. "Central spending after 2010 is planned. Local spending after 2010 is “guesstimated.”"

Fair enough, I should've gone with the other charts, less haste more speed and all that.

Still be delighted if someone dug up a chart showing significant austerity.

[Marcurix]

Has austerity ever worked?

No. Its a fancy word for political laziness.

While austerity might be many things, lazy isn't one of them.

[Eoghania]

It's right there on the site, under your charts. "Central spending after 2010 is planned. Local spending after 2010 is “guesstimated.”"

Fair enough, I should've gone with the other charts, less haste more speed and all that.

Still be delighted if someone dug up a chart showing significant austerity.

Financial Times did a piece but it's behind a payment gateway. Wikipedia has an article on the austerity programme itself but, bizarrely, no graphs. Best I can do for now, I'm afraid.

[The Whispers]

Has austerity ever worked?

Err well. Hmm.

Basically selling up the whole empire and gutting Britain's military paid down the (incredible) debts from the 1940s.

[The Serbian Empire]

Of course, austerity isn't working. It would be one thing if you were just cutting spending, but increasing taxes too? Talk about what not to do...

Merely one or the other would make it weak. Combine the two and there is no question the economy at best is stagnant and at worst is in decline. If one cuts spending, taxes should either stay the same or decrease to increase economic growth.

[Mike the Progressive]

Of course, austerity isn't working. It would be one thing if you were just cutting spending, but increasing taxes too? Talk about what not to do...

Merely one or the other would make it weak. Combine the two and there is no question the economy at best is stagnant and at worst is in decline. If one cuts spending, taxes should either stay the same or decrease to increase economic growth.

Absolutely. I think too many people look at spending as the solution/problem to a depression/recession. While that is important, without private consumption means little and cannot be sustained. It's little wonder that when you cut public spending and increase taxes, you damn your economy twice.

[Mkuki]

Has austerity ever worked?

Err well. Hmm.

Basically selling up the whole empire and gutting Britain's military paid down the (incredible) debts from the 1940s.

Does Britain still have a budget deficit?

[Nadkor]

Err well. Hmm.

Basically selling up the whole empire and gutting Britain's military paid down the (incredible) debts from the 1940s.

Does Britain still have a budget deficit?

You say "still" like deficits and debt in the 1940s might somehow be related to deficits and debts in the 2010s.

[The UK in Exile]

If you've been following British news recently, or, well, any time over the past few years, you'd have noticed that the British economy is in fairly deep trouble right now. Ever since the recession, it's been struggling to recover and even now it's still floundering around, still struggling to avoid further recession even today.

Many people are attributing this to the harsh austerity measures put in place by the Coalition.

This in itself isn't really news; austerity has been failing since day one. What I want to ask is, why are the Conservatives still pushing through with it?
Nearly 3 years on, and there still seems to be no sign of recovery. The deficit reduction plan isn't working, and neither, it seems, are any other government economic policies. They have me stumped.

NSG? Why is the government going ahead with its failing plan?

because its better for the conservatives to push on and hope they get lucky than it is for them to turn around and start being smart.

sad to say that at this point changing his policies and delivering growth get Osborne the same result as running the country into the ground. fired.

[Forsakia]

Merely one or the other would make it weak. Combine the two and there is no question the economy at best is stagnant and at worst is in decline. If one cuts spending, taxes should either stay the same or decrease to increase economic growth.

Absolutely. I think too many people look at spending as the solution/problem to a depression/recession. While that is important, without private consumption means little and cannot be sustained. It's little wonder that when you cut public spending and increase taxes, you damn your economy twice.

Some taxes have been cut (others have been raised) so the tax changes are murky.

[St George]

Alongside that even the Labour party acknowledged the need for cuts.

This line is trotted out by the Tories so much it's ridiculous.

There is literally no-one saying we shouldn't cut. No one. Targeted, well thought out cuts, which are fair to all, is what people want and what the economy needs. Instead we're getting massive cuts that disproportionately effect the poorest in society, alongside a despicable campaign of vilifying anyone on any kind of benefit.

Add to that the disgraceful way the disability benefit re-evaluations have been conducted and the additional damage being done to the economy and society by the ConDem coalition and it's surprising that there is anyone left to support them.

Unfortunately Thatcher's death will give them a nice bump during the local elections. If the old bat had clung until after the elections then we'd be getting a true indication of just how badly the electorate think they've done.

[St George]

What if you force them to work 18 hour days in the cotton mills? Along with the children whose parents can't afford to send them to school and the elderly who can't afford to retire.

Hitler did exactly that to drive down unemployment rates.

Actually he just removed women, Jews and other undesirables from the official figures.

[Forsakia]

Alongside that even the Labour party acknowledged the need for cuts.

This line is trotted out by the Tories so much it's ridiculous.

There is literally no-one saying we shouldn't cut. No one. Targeted, well thought out cuts, which are fair to all, is what people want and what the economy needs. Instead we're getting massive cuts that disproportionately effect the poorest in society, alongside a despicable campaign of vilifying anyone on any kind of benefit.

Wonderful, show me the graph of these massive cuts, show me the numbers, show me the evidence.

[St George]

What is this harsh austerity?

It's coming in the next Parliament. Less than half of the cuts have come into effect, and see the damage they've done? We're heading for a depression, not another recession.

[Baiynistan]

Blue-balls for Thatcherism combined with a life completely alienated from the working-class does not a good government make.

Austerity is crap because it reduces confidence and the willingness to take risks (entrepreneurial ventures/business expansion) at a time when that is exactly what is needed to stimulate the economy. Combine that with tax increases, especially those taxes placed on consumables (Tories increasing VAT!!), and people are going to penny-pinch like nobody's business (making nobody business)!

[Forsakia]

What is this harsh austerity?

It's coming in the next Parliament. Less than half of the cuts have come into effect, and see the damage they've done? We're heading for a depression, not another recession.

Show me the money. Show me the charts that show these cuts.

(And there's an election before the next parliament you know).

[Olivaero]

What is this harsh austerity?

It's coming in the next Parliament. Less than half of the cuts have come into effect, and see the damage they've done? We're heading for a depression, not another recession.

They won't get beyond the next Election. people might not like Milliband But the ConDems have been a truly shit government all round.

[The Archregimancy]

Because they don't want to become Greece. It is a well know fact of economics - one might almost say a Law - that when your debt exceeds 90% of your GDP everyone begins speaking Greek and eating spanakopita and drinking retsina and shouting "Hopa!" Really, you can look this up. How silly would people from Manchester and Birmingham and Burton-on-Trent look shouting "Hopa!"?

Quite right.

Keep up this nonsense, and some British passport holders might even become Orthodox.

[Czechanada]

Because they don't want to become Greece. It is a well know fact of economics - one might almost say a Law - that when your debt exceeds 90% of your GDP everyone begins speaking Greek and eating spanakopita and drinking retsina and shouting "Hopa!" Really, you can look this up. How silly would people from Manchester and Birmingham and Burton-on-Trent look shouting "Hopa!"?

Quite right.

Keep up this nonsense, and some British passport holders might even become Orthodox.

*Hastily writes down in religious conspiracy notebook: "Orthodox Conspiracy now relies on economic subversion."*

I'll have to bring this up in the next meeting of the Cabal of Secular Humanism.

[Ostroeuropa]

The country is run by a class of etonian dipshits and other colleges that decided to emulate their culture who have never run a country properly but think they are entitled to do so.
Fuck them all.

Just look at how prestigious our method of teaching people to run countries is, why, theres barely a country in the world we havn't run into the fucking ground!

If a candidate is from eton, it's an IMMEDIATE disqualification in my book.
Teaching people the same wrong ideas for centuries but making them look awfully posh doing it.


Couldn't run an empire, can't run a country, wont stop running for election.

[Czechanada]

The country is run by a class of etonian dipshits and other colleges that decided to emulate their culture who have never run a country properly but think they are entitled to do so.
Fuck them all.

Just look at how prestigious our method of teaching people to run countries is, why, theres barely a country in the world we havn't run into the fucking ground!

If a candidate is from eton, it's an IMMEDIATE disqualification in my book.
Teaching people the same wrong ideas for centuries but making them look awfully posh doing it.


Couldn't run an empire, can't run a country, won't stop running for election.

I for one hope Britain collapses economically. Just a taste of their own sins for their imperial oppression of the past few centuries.

I'm three-quarters serious.