Austerity

Austerity's enduring appeal has ancient roots in asceticism

The recent easing of the public sector pay cap suggests that the government is beginning to respond to widespread concerns about the social and …

The UK is the only country that continues to believe austerity works

It is tempting to believe that Theresa May’s decision to loosen the public sector pay cap marks the beginning of the end for austerity. Removing the …

Economics

Naxos Tavern Owner Finds Clever Way to Protest Against Heavy Taxes, Austerity

A tavern owner on Naxos found an inventive way to protest against the heavy taxes and overall austerity imposed upon Greek people in the past seven …

Greece

End to austerity? Poll gamble exposes rift in Britain's ruling party | Reuters

This story has not been edited by Firstpost staff and is generated by auto-feed.<p>Published Date: Jul 18, 2017 11:00 pm | Updated Date: Jul 18, 2017 …

Brits would pay higher taxes to end austerity - poll

Some 56% support ending austerity and increasing Government spending, even if it meant they personally had to pay higher taxes.<p>Half of the survey …

Greece

After 8 years of austerity, Greece gets EU budget approval

BRUSSELS – After eight years of toil by the Greek people, the European Union's executive arm is recommending that Greece be taken off its list of budget offenders, a move it hopes will help the country to start tapping financial markets for money soon.<p>Wednesday's proposal from the EU Commission to …

Greece

Spare us these cockroach arguments in favour of continued austerity

“I thought we had won that argument,” said the Chancellor, Philip Hammond, at his Mansion House speech last month, as he rejected suggestions he …

Economics

Ending austerity means increasing taxes or deficit, warns thinktank

Politicians must face up to the costs of public sector pay rises, reversing welfare cuts and boosting governance, says Resolution Foundation<p>Philip Hammond will have to rip up the government’s deficit reduction plan or increase taxes for most of the population if he decides to end seven years of …

Economics

Even the IMF says austerity doesn’t work. It’s the zombie idea that will not die

Politicians say that it’s sound finance, when in fact it’s a tool used to demonise immigrants and profit from ‘working-class concerns’<p>A few weeks on from the general election, and David Cameron has been disinterred to say giving public sector workers pay rises is the height of selfishness – while …

Opinion

These Charts Show Why Brits Are Furious About Austerity

The tide of public opinion has turned against the cost-cutting policies pursued by Prime Minister Theresa May’s Conservatives since they came to …

Business

David Cameron calls Tory austerity critics selfish, not compassionate

Former British PM says ministers calling for public sector pay cap to be lifted wanted to spend money they might need in future<p>David Cameron has described critics of austerity as “selfish”, saying their calls to boost spending and raise public sector pay may appear compassionate but would simply …

Referendums

Fury vented after David Cameron says 'opposing austerity is not compassionate'

Former PM made the comments in a speech in Seoul.<p>David Cameron has provoked a furious reaction by people slamming his comments that critics of …

Referendums

David Cameron says opponents of austerity are 'selfish'

LONDON — Former prime minister David Cameron has labeled those seeking to end seven years of cuts to public spending as "selfish" as the splits in Theresa May's cabinet over whether to raise the public sector pay cap widen.<p>Cameron, who was prime minister when the 1% cap on wage increases was …

Business

Britain faces an 'explosive debt trajectory' in the next 50 years if it ends austerity

LONDON — Britain could face an "explosive debt trajectory" in the long term if it does not deal with its budgetary issues and reduce the deficit in a well thought out manner, according to research from the UK economics team at Bank of America Merrill Lynch.<p>Writing in a note circulated to clients on …

Economy

4 Egypt Must-Reads: Pound Rises, Qatar Meeting & IMF Austerity

Egypt's economy is in tatters, though fresh austerity measures to meet terms of an IMF loan of $12 billion should have long-term benefits.<p>The …

Egypt

The Tories are giving up on austerity – at a time when we need it most

One of the joys of watching politics is that sometimes you can feel the tectonic plates shifting beneath your very feet. Usually they're just …

Jacob Rees-Mogg

Cabinet ministers tell May to end austerity - Observer

LONDON (Reuters) - Prime Minister Theresa May is under pressure from her ministers to end the government’s policy of economic austerity as a new poll shows her popularity has slumped, according to the Observer.<p>Health secretary Jeremy Hunt wants the government to drop a cap on public sector pay …

Brexit

Britain's Conservative govt under pressure to ease austerity

LONDON – Key government ministers are pressuring Conservative British Prime Minister Theresa May to ease austerity and remove a pay cap for public sector employees.<p>The Observer newspaper said Sunday that Health Secretary Jeremy Hunt is lobbying to lift the 1 percent cap on pay increases for …

Brexit

Thousands of protesters march through London; decry austerity, demand Theresa May's resignation

<b>London:</b> Thousands of people marched through London on Saturday to protest austerity measures and to demand Prime Minister Theresa May's government …

Brexit

May told to ditch austerity by ministers

British Prime Minister Theresa May is under pressure from her ministers to end the government's economic austerity as a new poll shows her popularity …

Public Sector

Cabinet ministers tell May to end austerity: Observer

LONDON (Reuters) - Prime Minister Theresa May is under pressure from her ministers to end the government's policy of economic austerity as a new poll …

World Economy

The end of UK austerity means a tilt towards taxes

The people of Britain are “weary of the long slog”. So says the man leading the march: Philip Hammond, the Chancellor of the Exchequer. He is right. …

Economics

UK government defeats opposition motion on austerity criticism

LONDON (Reuters) - Prime Minister Theresa May’s government defeated an amendment to her programme of legislation on Thursday, voting down an attempt to force her to drop austerity measures.<p>The government defeated the motion by 323 votes to 297 votes.

Brexit

The austerity you’ve heard so much about just doesn’t exist

The word austerity crops up everywhere.<p>It seems there is no problem under the sun which cannot be blamed on it. The media and the left deploy the …

Economics

What is austerity and what does it mean in UK politics?

Recent news has indicated that people aren’t tolerating austerity measures any more – but what does austerity mean?<p>An austere individual is someone …

Economics

Athens: thousands of public-sector workers march against austerity

Protest, for better employment rights, is latest in series that has hindered rubbish collection in major cities in Greece<p>Greece has been hit by fresh strike action as thousands of public sector workers marched through Athens in protest against the debt-ridden country’s austerity …

Greece

Egypt to raise food subsidy allowance in bid to ease pressure from austerity

CAIRO (Reuters) - Egypt is more than doubling monthly food subsidies, to 50 Egyptian pounds per person from 21 pounds currently, President Abdel Fattah al-Sisi said on Tuesday while announcing a raft of measures intended to ease the effects of austerity.<p>Egypt has been hit by soaring inflation since …

Egypt

Less austerity will always mean more tax

There is a great deal of discussion, following the election, of relaxing or even abandoning austerity.<p>There is an equal amount of confusion about …

Economics

Clinging to austerity will kill this government – the small-state dream has evaporated

Theresa May has only a few weeks to get out of crisis mode and develop an alternative strategy to cuts, entitlement and neglect<p>You can pretend there’s a government, delay the Queen’s speech, substitute bluster for a coherent Brexit strategy. When all else fails you can simply hide from public view. …

Opinion

Is Austerity Really Over? Not Likely

Since the Brexit referendum, the Tory government has made a number of noises concerning the soft-pedalling of austerity.<p>In the immediate aftermath, …

Economics