There is a clash of priorities in the government’s austerity economics

What comes after austerity is the subject of a major conference being hosted by the TUC next week. But just how austere is the austerity age?

David Cameron and George Osborne have developed since 2010 a political narrative emphasising the necessity of public spending cuts accompanied by personal asceticism. Apparently we have been living beyond our means.

The problem, however, is that the government has not yet put its economic strategy where its mouth is: an administration that really wanted to get personal debt down would have to take a very different approach to deficit reduction and public spending cuts.

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Image: TUC