Austerity in Europe

Europeans are braced for a new age of austerity as governments across the region take action to eliminate unsustainable budget deficits

Treasury veteran tots up wins and losses

Nick Macpherson
©Anna Gordon

Austerity advocate admits failure to see crash coming was ‘monumental collective intellectual error’

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File photo dated 29/09/2014 of Iain Duncan Smith who has quit the Cabinet, branding cuts to benefits for the disabled in George Osborne's Budget "indefensible". PRESS ASSOCIATION Photo. Issue date: Friday March 18, 2016. In an excoriating parting shot at the Chancellor, the Work and Pensions Secretary complained of pressure to "salami slice" welfare and a failure to spread the burden of spending curbs. See PA story POLITICS Disabled. Photo credit should read: Stefan Rousseau/PA Wire ©PA
Cameron needs to ensure both old and young shoulder the burden
CARDIFF, WALES - JANUARY 07: Chancellor of the Exchequer George is seen during his speech at St David's hotel during his visit to Cardiff on January 7, 2016 in Cardiff, Wales. (Photo by Ben Birchall - WPA Pool/Getty Images) ©Getty
This is no time for fresh austerity in pursuit of an arbitrary target

Spain deficit fight suffers setback

Madrid blames overspending by regional authorities for budget gap

France trims budget deficit

Positive development tarnished by rise in jobless figures

Warning on Italian corporate ‘asphyxia’

Gianfelice Rocca says austerity push could put euro exit on agenda

N Ireland economy outshone by Republic

Foster and McGuinness head to US on investment mission

austerity photographs from blackpool.

Blackpool braced for return of austerity

Town weathered initial reforms but hardship could be on the way

austerity photographs from Guildford

Affluent Guildford immune to benefits cuts

People are reining in spending but a taste for luxury remains

Voters unconvinced of Ireland’s recovery

Poorer areas not feeling benefit of growth in economy and jobs

Poland’s child benefits alarm economists

Government hopes to boost fertility across country

George Osborne, chancellor
©Charlie Bibby

UK borrowing target on a knife edge

Data show only £7bn room to manoeuvre until end of financial year

Yawning budget hole awaits Spain’s new PM

Madrid will report a deficit of 4.8% for last year and 3.6% this year

Civil servants face axe to hit trainee quota

Union anger as redundancy terms are also targeted in report

Portugal agrees ‘Plan B’ deficit cuts

Investors continue to penalise government bonds

Portuguese budget just avoids rejection

€1.1bn in last-minute cuts wins over EU evaluators

Brussels criticised over crisis bailouts

European Commission treated countries differently, say auditors

Portugal PM vows to roll back austerity

António Costa says future is about innovation, not working longer

Osborne on course to miss deficit target

Forecast will be breached without a bumper final quarter

Austerity hits Liverpool devolution plans

Extra money city is to receive will not cover council grant cuts

Forecasts: Osborne faces cuts hurdles

Chancellor will struggle to achieve his goal of a budget surplus

Bailout tests Portuguese austerity pledge

New socialist PM comes up against harsh financial realities