The Austerity Con
Simon Wren-Lewis, 19 February 2015
“... last Labour government’s measures included a cut in VAT in late 2008, albeit for just a year. Barack Obama managed to enact a package of measures which included higher government spending as well as lower taxes, and even Germany undertook a fiscal stimulus package in 2009. The normally austere IMF agreed that fiscal stimulus was the way to go in ... ”