How much has UK austerity cost (so far)? Simon Wren-Lewis – Mainly Macro

Austerity

Austerity (Photo credit: GoatChild)

This is an excellent MUST READ article from Oxford economist Simon Wren-Lewis, writing in his Mainly Macro blog. Check it out!

via mainly macro: How much has austerity cost (so far)?

The staggering cost of excessive austerity to every UK household is slowly beginning to dawn on the nation. That’s the opportunity cost of the “pound in your pocket” lost under David Cameron’s Government. Add to that the huge social cost of collapsing public services, like heathcare and social care to name the most obvious. Add to that cost of unnecessarily political meddling and bungling bureaucrats  perpetuating waste, and the implications are quite stunning.

Of course, watch the political classes carefully with their smoke and mirrors tricks, and it looks like with wave of “uncle David’s magic wand” the UK shall once again have a consumer led recovery on the back of anticipated property inflation.

So everything will be OK in time for next election?

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29 responses

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  29. We seem to have reached the paradox of millions of dollars paid to CEOs, and the rest have to have low wattage light bulbs to help the environment and economy, how is this so? is Buckingham Palace using low wattage globes? are they scraping by on their newly sum offered of a mere 60 million dollars or is it pounds? do the Royals pay bedroom tax and how many bedrooms is in the hands of the Royals. Whatever I am sure they are leading lights to show us all the way.

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