Britain’s Austerity Budget: A Declaration of Class War?

Friday, July 9, 2010
By Paul Martin

Hugo Radice
Market Oracle
Jul 09, 2010

The June Budget – Following the inconclusive outcome of the British general election on May 6th, the ‘centrist’ Liberal Democratic Party decided to turn sharply to the right by agreeing to join the Tories in a coalition government. In the run-up to the election, the Tories had argued strongly that Britain faced the prospect of a fiscal crisis unless the government’s deficit was brought down further and faster than the outgoing Labour government intended (see The Bullet no.350).

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