“Austerity” in the news
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The China Post
· IMF: Mideast loses $270B oil income amid virus, recession →
While the IMF has for years been urging Gulf states to introduce tougher austerity measures, “we did not recommend the specific measure here” for Saudi Arabia, Azour said.
· IMF Turns More Downbeat on Mideast as Coronavirus Hit Persists →
Still, these do not qualify as austerity measures, said Jihad Azour, the IMF’s director for the Middle East and central Asia.
· Monday briefing: Councils lose millions in Covid-19 crunch →
The investments – part of an effort to find alternative income sources during austerity cuts – have been badly hit by virus lockdowns.
· Which English councils rely heavily on commercial investments? →
The investments were intended to create a revenue stream for cash-strapped councils, following a decade of austerity when central government grants were decimated.
· English councils poised to make cuts amid loss of commercial income →
The commercial investments, many acquired in a £7.6bn property spending spree in England over the past four years, were part of councils’ effort to find alternative incomes and protect local services that faced cuts or closure during a decade of deep austerity cuts.
· Pushing poor people into bad work: how British jobcentres operate →
Contrary to what the government is now saying about Leicester and “cultural sensitivities” being to blame for a failure to tackle sweatshops, the effects of austerity on workplace inspections are a connected part of the same story.
· Tax POLL: Would you support rise in tax to pay for coronavirus rescue fund? VOTE →
We will need spending cuts, or given a decade of austerity, perhaps more likely some tax rises
· Anne Applebaum: how my old friends paved the way for Trump and Brexit →
The left says austerity and inequality caused Brexit and Trump, proving they had always been right to oppose austerity and inequality.
· I was optimistic about this brave new post-Covid world – until the Tories reminded us who they really are →
And in a few years’ time, long after Sunak has splashed the cash, built his career and moved on, austerity will be re-introduced.
· Only 12% want a return to the old ‘normal’ Britain after Covid-19 →
There is little support, by contrast, for a return to austerity: only 17% of those polled think the government should cut funding for public services in the future, to pay back the money borrowed to respond to the crisis.