Austerity

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Austerity

A program in which a government drastically reduces spending and/or increases taxes or other revenue sources. A government launches austerity programs when their deficit and/or national debt become unsustainable. The IMF and the World Bank often require austerity programs in exchange for restructuring or refinancing a country's debt. Austerity is usually politically unpopular because it may involve cutting programs like food subsidies or national health care.
References in periodicals archive ?
Khattar's Officer On Special Duty ( OSD) Jawahar Yadav slammed the Congress for criticising the move and said the government did not flout any austerity measure as new cars were a " necessity".
The organizers have called on all workers and citizens to express their disapproval against the strict austerity measures and demand a decent standard of living, employment opportunities for the new generation, prosperity, and the implementation of policies that would take into consideration above all the welfare of the citizens and not just economic indicators.
The charity has now called on governments across the continent to reverse austerity measures which it said had "massively" increased poverty and inequality.
Oxfam are calling on governments across the continent to reverse austerity measures which have "massively" increased poverty and inequality.
It is just a proposal," Moily told PTI, adding that his ministry would launch austerity measures on September 16.
Dr Ruth Lewis, senior lecturer in sociology and editor of the report, said: "The impacts of the national austerity measures, together with long-term, ingrained inequality in the region, mean that the prospects for women in the North East are likely to be bleak and urgently need addressing.
Portugal is suffering from its deepest recession in 40 years amid austerity measures imposed by Coelho's government, and the economy is set to contract by 2.
Britain will prolong its austerity measures by one year, the country's Finance Minister, George Osborne, said in his Autumn Statement, an update of its budget.
WITHOUT doubt, the Chancellor's Autumn Statement, to be delivered today, will usher in fresh austerity measures.
TENS of thousands of people marched in protest at the Government's tough austerity measures yesterday.
Summary: Tens of thousands of people have marched through London to protest against the Government's austerity measures.
A FIREFIGHTER, teacher and civil servant will complete a 150-mile trek from Cardiff to London today to join a huge protest rally against the Government's austerity measures.