In a recent austerity drive on Monday, Sri Lanka froze the hiring for government jobs following a swell in taxes and electricity prices. The upsurge came as the administration attempted to secure financial escape from International Monetary Fund (IMF).
However, to secure the IMF bailout of $2.9 billion from the Washington-based creditor, Sri Lanka needs to achieve debt sustainability as the nation's economy has been in crisis since April.
reaction to it. have people heard what they want to hear? thank you. let s talk more about the decisions that will be taken on public spending because we know there will be around £30 billion of public spending cuts announced by the chancellor today. just to put it in some sort of context, because there was the austerity drive of the government in 2010, and that was to cut the deficit when the debt was outstripping income for the government. since then, basically only two departments have more spending power than they had in 2010. it s the home office and department of health. let s talk more about health. i m joined by sally warren director of policy at the king s fund a think tank specialising in health care policy, and formerly director for social care. welcome, thank you forjoining us. you re expecting health to be protected again. but what are your
that was 2012. ten years later, many of george osborne s team are now advising jeremy hunt. among them is rupert harrison, formerly mr osborne s chief of staff and an architect of the austerity drive then. eleanor shawcross, mr osborne s former deputy chief of staff, is now head of policy at number ten. but austerity in 2010 left poor communities even poorer. between 2010 and 2020, the average household wealth in the affluent south east of england increased by 42%. in the north east, it rose just 3%. today, the labour party pointed out that the uk is the only g7 economy that is poorer now than before the pandemic.
probably for future governments and parliaments to resolve. parliaments to resolve. thank you very much- parliaments to resolve. thank you very much- the parliaments to resolve. thank you very much. the chief parliaments to resolve. thank you very much. the chief executive i parliaments to resolve. thank you very much. the chief executive of| very much. the chief executive of the northern powerhouse partnership, thank you for your time. let s get more on this. let s get more from our political correspondent, iain watson. the government is trying to make more money through capital gains tax, what is it saying? what more money through capital gains tax, what is it saying? tax, what is it saying? what the government tax, what is it saying? what the government is tax, what is it saying? what the government is saying tax, what is it saying? what the government is saying is - tax, what is it saying? what the government is saying is that. tax, what is it saying? what the | gover