Unhappy Birthday: 5 years on, Osborne’s austerity Budget has failed as public debt still heads for 90 % of GDP (Maastricht definition)

Five years ago today, George Osborne published his austerity budget. His philosophy of action was set out a few months ahead of the election in the Mais Lecture (25th February 2010).  Deploying the (now somewhat discredited) work by Reinhart and Rogoff (issued in January 2010), he argued “So while…Read more…