Support 100 years of independent journalism.

  1. Science & Tech
  2. Coronavirus
4 May 2020updated 06 Oct 2020 9:45am

Why the UK must not return to austerity after the coronavirus crisis

By Samuel Horti

Government spending designed to help Britain through the coronavirus crisis will push the budget deficit to more than £200bn this year, according to forecasters, and debt is set to surpass 100 per cent of GDP. This surge is already prompting demands for austerity, which proved so destructive for British society in the decade to 2020.

In an article published on the New Statesman today, 12 leading economists lay out exactly why a return to austerity would be such a bad idea. The economists, including Mariana Mazzucato, Robert Skidelsky, Ann Pettifor, David Blanchflower and others, present an alternative case for growth and investment, progressive tax rises and Bank of England money creation. Whether Prime Minister Boris Johnson heeds their calls will show us how much the Conservative part has really changed.

You can read the full article here.

Select and enter your email address Quick and essential guide to domestic and global politics from the New Statesman's politics team. A weekly newsletter helping you fit together the pieces of the global economic slowdown. The New Statesman’s global affairs newsletter, every Monday and Friday. The best of the New Statesman, delivered to your inbox every weekday morning. The New Statesman’s weekly environment email on the politics, business and culture of the climate and nature crises - in your inbox every Thursday. Our weekly culture newsletter – from books and art to pop culture and memes – sent every Friday. A weekly round-up of some of the best articles featured in the most recent issue of the New Statesman, sent each Saturday. A newsletter showcasing the finest writing from the ideas section and the NS archive, covering political ideas, philosophy, criticism and intellectual history - sent every Wednesday. Sign up to receive information regarding NS events, subscription offers & product updates.
  • Administration / Office
  • Arts and Culture
  • Board Member
  • Business / Corporate Services
  • Client / Customer Services
  • Communications
  • Construction, Works, Engineering
  • Education, Curriculum and Teaching
  • Environment, Conservation and NRM
  • Facility / Grounds Management and Maintenance
  • Finance Management
  • Health - Medical and Nursing Management
  • HR, Training and Organisational Development
  • Information and Communications Technology
  • Information Services, Statistics, Records, Archives
  • Infrastructure Management - Transport, Utilities
  • Legal Officers and Practitioners
  • Librarians and Library Management
  • Management
  • Marketing
  • OH&S, Risk Management
  • Operations Management
  • Planning, Policy, Strategy
  • Printing, Design, Publishing, Web
  • Projects, Programs and Advisors
  • Property, Assets and Fleet Management
  • Public Relations and Media
  • Purchasing and Procurement
  • Quality Management
  • Science and Technical Research and Development
  • Security and Law Enforcement
  • Service Delivery
  • Sport and Recreation
  • Travel, Accommodation, Tourism
  • Wellbeing, Community / Social Services
I consent to New Statesman Media Group collecting my details provided via this form in accordance with the Privacy Policy
THANK YOU

Content from our partners
The cost-of-living crisis is hitting small businesses – Liz Truss must act
How industry is key for net zero
How to ensure net zero brings good growth and green jobs