The article highlights recent austerity measures by the Labour government under Chancellor Rachel Reeves, including cuts to benefits, restrictions on aid, and an increase in tuition fees. It questions the justification of these policies given the current economic climate and compares Labour's actions unfavorably to the adaptability seen in other countries. The author points out that, despite claiming credit for wage increases, many working individuals still rely on universal credit due to low earnings, emphasizing an ongoing struggle for adequate living standards amidst government spending cuts.
"It is expected that in the spring statement, the chancellor, Rachel Reeves, will seek to justify this effective return to austerity by the necessity to maintain iron economic discipline through a rigid adherence to her fiscal rules."
"The chancellor's argument will be that the world has changed, which is true, but this prompts the question: why, then, doesn't the government's strategy change to meet the situation it now finds itself in?"
"Even Germany's iron laws welded into its constitution are being adapted to the new economic realities."
"...even working full-time on the minimum wage means a person is nearly 10,000 below the annual income, after tax, calculated by the Joseph Rowntree Foundation as necessary to secure an acceptable standard of living."
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