United Kingdom government austerity programme
The United Kingdom government deficit reduction programme is a series of reductions in public spending, intended to reduce the government budget deficit and the welfare state in the United Kingdom. However, the NHS and education were "ringfenced" and protected from spending cuts.
Background[change | change source]
The programme was created in 2010 by the Conservative and Liberal Democrat coalition government. Its original stated goal was to, "achieve cyclically-adjusted current balance by the end of the rolling, five-year forecast period." At the June 2010 budget, the end of the forecast period was 2015–16. However, in 2014 the Treasury extended the proposed austerity period until at least 2018.
References[change | change source]
- "Should NHS budget be ring-fenced?".
- James Kirkup (5 Jan 2014). "George Osborne to cut taxes by extending austerity and creating smaller state". Retrieved 1 February 2014.