The Guardian:
Why George Osborne is still man of the moment
15 March 2015
The story of the first coalition government in Britain since the second world war is the story of austerity and thwarted deficit reduction plans. It is the story of a delayed economic recovery. It is the story of falling unemployment but dismal productivity. Above all, it is the story of a squeeze on living standards unprecedented in modern times. When the historians come to assess the past five years, they will single out the politician that really counted during this period. It will not be David Cameron. ... Prof John Van Reenen, director of the Centre for Economic Performance at the LSE , said: ''The austerity programme of the coalition government knocked at least 1% per year off growth in the first two years of the 2010-15 parliament. In retrospect, the acceleration of austerity looks like a mistake and the slower pace of austerity in 2012-13 and thereafter was welcome.''
This article was published online by the Guardian on March 15, 2015
Link to article here
Related publications
Austerity: Growth Costs and Post-Election Plans, John Van Reenen, CEP 2015 Election Analyses No.20, March 2015
Related links
John Van Reenen webpage
Productivity and Innovation Programme webpage