World: The word of the day in Britain is “austerity.” Hey, budget cuts!
- Hear that sound? That’s the sound of a bunch of Brits taking in the government’s new austerity measures, a tour that’s hit many other European nations already. (In some countries, such as France and Greece, the reaction has been harsh and violent.) They have a plan to decrease their spending within a few years, and much of the cut is going to come directly from their welfare state. They’re cutting in other places, too, but this is where the average person will feel it most:
- 19% in overall spending cuts over the next four years
- 2015 the year British finance minister George Osbourne says they want have the budget balanced
- 490k the number of public sector job cuts Osbourne says they expect to make due to austerity measures source
- 66 the new retirement age (by year 2020) – and France is bitching about retiring at 62
- 24 the minimum number of hours that couples need to work to receive the Working Tax Credit
- £7B the amount the government says it could save each year with new welfare cuts source
- » Where they’re still heavily focused: The country is making great efforts towards green energy, investing in wind energy and cutting carbon. Still, it’s worth emphasizing that these are coming during a period where they’re making some of the harshest cuts since World War II.