What is Austerity?

Austerity is a means to reduce public debt. Typically, it involves cutting public and government spending while raising taxes.
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what-is-austerity
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This is when a government responds to a growing public debt by introducing fiscal policies to control and lower the debt.

Typically, it involves cutting public and government spending, while raising taxes.

After the global financial crisis of 2008 – some major economies, such as the UK, introduced austerity measures.

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