Austerity in the UK: past, present and future

In this article, John Van Reenen looks at the UK’s economic performance since the global financial crisis and assesses the impact of austerity policies. He also examines the fiscal plans of the three major parties over the next Parliament, finding that, while all are currently planning for continued and severe austerity, the Conservatives’ plan would bring down the debt level more quickly but at the cost of lower investment, growth and employment.