Published: 1st Jun 2015

I was recently invited to contribute to two New Economics Foundation (NEF) workshops in London and Birmingham on the theme of ‘beyond austerity’. Given the general election result on May 7 and the government’s stated policies, I have been pondering what realistically can be beyond austerity for at least the next five years. However much we may wish the government to adopt a different and progressive public expenditure and investment-led macro-economic strategy, realistically, this is simply not going to happen as long as the current government holds to its current position and remains in office. The next two years will see public expenditure cuts even greater than over the last five years, even though many (perhaps not the even the majority) of the last spending review-driven cuts are yet to fully realised. The extraordinary Budget on July 8 will confirm the government’s direction and speed of travel in advance of … (To read the full article, subscribe below)