Sentences with phrase «unprecedented fiscal squeeze»

Mr Osborne's combination of # 32 bn additional spending cuts by 2014 - 15 and an # 8 bn net tax hike amounts to an unprecedented fiscal squeeze, including an extremely severe clampdown on the welfare bill.

Not exact matches

So the table demonstrates that, in historical perspective, Osborne's strategy implemented on top of the cutbacks already made by the current coalition government would be unusual but not unprecedented in the length of the fiscal squeeze it would imply (seven years).