At the height of the pandemic, politicians promised to keep the economy running at all costs and introduced emergency support such as vacation plans.But now that these measures have been reduced, the topic has turned “Fix public finances”, ending “Reckless borrowing” and prevention “Debt is soaring.” The term austerity hasn’t appeared yet, but it feels a bit familiar, doesn’t it?
So, what exactly do these phrases mean? Should we really worry about things like government borrowing and public debt? What other ways of thinking about our economy?
Dora Meade, director of messaging for the New Economy Organizers Network (NEON), and Frank van Lerven, senior economist at NEF, also joined Ayeisha.
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Picture: Simon Dawson/10 Downing Street (CC BY-NC-ND 2.0)
