Weekly Economics Podcast: Is austerity back?
Ayeisha Thomas-Smith is joined by Frank van Lerven and Dora Meade
26 October 2021
At the height of the pandemic, politicians promised to do whatever it took to keep the economy going, and introduced emergency support like the furlough scheme. But now those measures have been cut and the conversation has turned to “fixing the public finances”, ending “reckless borrowing” and preventing “soaring debt”. The word austerity hasn’t featured yet but it’s all feeling a bit familiar, isn’t it?
So, what do these phrases actually mean? Should we really be worried about things like government borrowing and public debt? And what are some of the alternative ways of thinking about our economy?
Ayeisha is joined by Dora Meade, head of messaging at the New Economy Organisers Network (NEON), and Frank van Lerven, senior economist at NEF.
- Read NEF’s new report Calling time: Replacing the fiscal rules with fiscal referees
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Image: Simon Dawson /No 10 Downing Street (CC BY-NC-ND 2.0)
Topics Macroeconomics
