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Years of austerity ‘have left UK with same level of public spending as it had 10 years ago’ says IFS | The Independent

The Institute for Fiscal Studies finds spending is no lower as a share of national income than it was after 11 years of a Labour government

Despite years of painful austerity, the UK’s level of public spending is today no lower as a share of national income than it was after 11 years of a Labour government in 2008, according to a report by the Institute for Fiscal Studies.

The major report from the UK’s leading economic think tank shows that deep cuts have left the NHS, schools and prisons in a “fragile state”, and have merely returned public spending to pre-financial crisis levels.

The document presents a challenge to claims that Conservative-driven austerity saved the public finances following years of Labour overspending.

The think tank’s report goes on to conclude that in the light of the data, Chancellor Philip Hammond’s plan to abolish the UK’s deficit by the mid-2020s is “no longer sensible”.

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Sorgente: Years of austerity ‘have left UK with same level of public spending as it had 10 years ago’ says IFS | The Independent

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