A slight cut in the growth of government spending is a pretty absurd definition of Austerity. The UK public debt continues to balloon as before. If any recove

A slight cut in the growth of government spending is a pretty absurd definition of Austerity. The UK public debt continues to balloon as before. If any recovery is in housing prices and speculation as opposed to business and invetstment, that is even worse for the long run. A nation cannot house-build its way to prosperity. Dwellings are primarily a consumable item, and mich harder to export than tractors or cars.