Britain Has an Alternative to Austerity

The following is “By the Editors” at Bloomberg:

Britain Has an Alternative to Austerity - Bloomberg

George Gideon Oliver Osborne

The too-tight squeeze on fiscal policy is self-defeating. If the cycle of stagnation and austerity continues, the debt outlook will continue to worsen and markets will have more reason to worry, not less.
[..]
The government has already identified the right thing to focus on: infrastructure. There’s an enormous backlog of worthwhile projects; the short-term boost that construction delivers to the wider economy for every pound spent is high (the Confederation of British Industry says the so-called multiplier is almost 3); and well-chosen infrastructure supports long-term growth.

Britain Has an Alternative to Austerity – Bloomberg.

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