Friday, May 01, 2015

Invisible Hand

The topic is UK economic policy. The Tory switch from insane and needless austerity to easing off and letting growth resume post-2012 is such a stark illustration of austerity madness that it should be clearly visible in the data.

Above is Central Government receipts and expenditures since 1997 (source: Office of National Statistics, Figure 4). This doesn't include the additional debt that the government was absorbing through the bank rescues.

Spot the austerity!

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