Austerity in the UK: rhetoric and reality

The bond team at M&G have posted a useful item on their always excellent Bond Vigilantes blog. It makes the point that the next general election campaign will be fought amidst a host of rival claims about the impact of austerity on the British economy. Yet in reality this whole debate is based, they point out, on "a phoney premise", since the UK has in practice seen relatively little austerity in the six years since the global financial crisis.

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