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World

Please, Rachel Reeves, define ‘austerity’

29 October 2024

8:21 PM

29 October 2024

8:21 PM

What is a working person? This is the question Keir Starmer and other members of his Cabinet struggled to answer over the past week or so. Labour’s flip-flopping is in many ways emblematic of the clash between political rhetoric and fiscal reality.

And there is another term that is probably much harder to define, one that has dominated the conversation about the public finances over the last 14 years.

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