Austerity by stealth

The policy briefing provides a data-rich overview over the budgets planned for public services in the UK and their connection to the future development of inflation. It highlights the fact that inflation might lead to "invisible" cuts to public sector budgets.

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Comment from our editors:

The report addresses an interesting issue, namely the effects of inflation on public sector budgets, which stands in interesting contrast to arguments which see the public sector as profiteers from inflation, e.g. those focusing on the effects of inflation on the tax revenue or the depreciation of public sector debt.

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