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by tjradcliffe
4049 days ago
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I've seen this claim as well, but the data don't seem to support it. UK spending for all levels of government 2008-2014 in constant (2005) pounds (data from: http://www.ukpublicspending.co.uk/download_multi_year_2008_2...): Year GDP Pop Spending £ bln 2005
2008 MW gdp 61.548 582.23
2009 MW gdp 61.904 623.50
2010 1564.9 62.262 697.65
2011 1600.2 62.649 699.89
2012 1621.6 63.067 692.43
2013 1632 63.488 661.32
2014 1665.6 63.912 525.22
There's a huge drop 2013-2014, but before that the spend-up was pretty considerable, and economic growth has been solid since the start of 2013, so if this be "austerity", make the most of it!EDIT: the drop in 2014 is due to local government not being added in. If I look at just "Central Government" from the same source: 2008 MW gdp 61.548 427.07
2009 MW gdp 61.904 458.29
2010 1564.9 62.262 516.99
2011 1600.2 62.649 517.16
2012 1621.6 63.067 522.42
2013 1632 63.488 496.97
2014 1665.6 63.912 525.22
Again, hard to claim much "austerity" in these data. |
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On overall the deficit between the two has been decreasing which is where the 'austerity' terminology is used. The comparison comes in handy where alot of Europe has been going through this (in spite of decreasing or low economic growth) whereas the US increased its deficits too.
What I mean to say is austerity is tied more to the affordability as opposed to the absolute dollar amounts.
Deficits
Year Amount 2009 156.3 2010 148.6 2011 120.6 2012 99.5