Skip to main content

Looking at what Austerity means in terms of current public spending

I have always wanted to put together some figures to see what has been happening to total government expenditure. It was clear at the start of the coalition government that what started as a government which was really quite tight as to finance developed into a government with some financial flexibility. At the time I knew that was because the interest rates on government debt were coming down which freed up money to be spent.

I have spent a little time getting at the statistics from the ONS to try to see what actually has happened actually since 1998. In the chart below I have taken the ONS figures for spending in the calendar year. That is because the inflation figures (RPI/CPI) are also calendar year figures. In the end a similar pattern would arise with financial year figures. What I have taken is the current spending excluding banks and calculated that in 1987 Equivalent Pounds sterling. When copying the image from my source data I have left the source figures both for current spending and also for interest on government debt. What I find interesting about the interest on government debt is that it has done down since 2011 although the amount of debt has gone up. Obviously it will continue going up now as the more expensive debt has been rolled over into a lower interest rate.

The key thing to note, however, is that current public spending in real terms has been higher in real terms during austerity than any year prior to 2008. austerityto2016

Comments

Popular posts from this blog

Its the long genes that stop working

People who read my blog will be aware that I have for some time argued that most (if not all) diseases of aging are caused by cells not being able to produce enough of the right proteins. What happens is that certain genes stop functioning because of a metabolic imbalance. I was, however, mystified as to why it was always particular genes that stopped working. Recently, however, there have been three papers produced: Aging is associated with a systemic length-associated transcriptome imbalance Age- or lifestyle-induced accumulation of genotoxicity is associated with a generalized shutdown of long gene transcription and Gene Size Matters: An Analysis of Gene Length in the Human Genome From these it is obvious to see that the genes that stop working are the longer ones. To me it is therefore obvious that if there is a shortage of nuclear Acetyl-CoA then it would mean that the probability of longer Genes being transcribed would be reduced to a greater extent than shorter ones.