Jam today, austerity after the next election – that was the thrust of the chancellor’s heavily trailed autumn statement last week. As expected, Jeremy Hunt announced tax cuts that the country can ill afford. But despite his claims to be focused on the long term, he is paying for these cuts by raiding the money that should be reserved for public services after the next election to help them cope with rising inflation.
If this further round of spending cuts is imposed, it will blight the lives of the people who disproportionately rely on Britain’s public infrastructure – children from disadvantaged backgrounds, older people with care needs, women suffering domestic abuse. It will also continue to suppress the country’s future growth prospects, perpetuating the austerity fallacy that cutting public spending makes good economic sense despite the fact that it inevitably shrinks future tax revenues.
