New analysis reveals how much austerity has cost each person in the UK
Alfie Stirling writes for Left Food Forward
22 February 2019
Alfie Stirling wrote for Left Foot Forward about NEF analysis showing the true economic impact of austerity:
“The calculations make for grim reading. The isolated impact of government policy has reduced GDP growth every single year since 2010.
After compounding this effect year-on-year, the effects of austerity are expected to have suppressed the level of GDP by almost £100 billion in the 2018/19 alone.
To break this number down another way, it means that deliberate policy from government over the past nine years has had the standalone effect of suppressing incomes and expenditure in the economy by just under £1,500 per person and more than £3,600 per household, in this year alone.”
Topics Macroeconomics
