Since Reeves gave her budget warning speech there are more mentions about tax increases and spending cuts popping up. The word austerity is also gaining some traction.
To make my alarm worse I saw Vince Cable and George Osbourne talking at a Treasury Select Committee last week. In this portion of the video they sound like the austerity from 2010 was just a philosophical event with no serious outcomes.
I have a personal axe to grind over austerity.
In 2010 I was in the civil service and entering year 3 of a 6 year debt management plan.
After the new government came in CS pay rises were capped at 1%, the NHS and other public sector areas were similarly treated. Between 2010 & 2020 CPI average annual inflation was under 1% 3 times and over 2.5% 5 times.
You don't have to be a genius to realise that if your pay is less than inflation then your finances are put under strain.
Austerity must not return.
#RachelReeves #ToryScum #Labour #UKPolitics #Austerity
https://youtu.be/ZKXetPD5xV4?si=AiYFs6DuDUoEFiPH