<p><p>Attempts to brake or reverse the growth of public spending in the UK are not new: Adam Smith discussed the problem over 200 years ago. So what can we learn from earlier periods of restraint or cutback in public spending? </p><p></p><p> </p><p></p><p>This paper briefly reviews two key historical cases, the 'Geddes Axe' era of 1920s and the 1975-1985 era which included the 1976 IMF loan and subsequent attempts to restrain public spending under both Labour and Conservative governments. It also analyzes public spending in relation to the economic cycle over the last 60 years.</p></p>
Authors
Deputy Director
Carl, a Deputy Director, is an editor of the IFS Green Budget, is expert on the UK pension system and sits on the Social Security Advisory Committee.
Christopher Hood
Ruth Dixon
Report details
- ISBN
- 978-0-9562858-0-5
- Publisher
- ESRC Public Services Programme
Suggested citation
R, Dixon and C, Emmerson and C, Hood. (2009). Public spending in hard times. London: ESRC Public Services Programme. Available at: https://ifs.org.uk/publications/public-spending-hard-times (accessed: 29 March 2024).
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