BBCNEWS Outside Source June 4, 2024 19:32:00
Overall this year, the economy still forecast to grow by 4.2%. gdp then falls in 2023 by 1.4%, before rising by 1.3%, 2.6% and 2.7% in the following three years. well, many are calling the chancellor's package a return to austerity. but is that the case? austerity is adopted by governments to try to "balance the books" if it's been running a budget deficit, or overdraft, where it's having to borrow money to fund public spending. it was pursued back in 2010 — in the aftermath of the financial crisis. david cameron was prime minister at the time. austerity then meant deep spending cuts and tax...