ACCTG 1 Lecture Notes - Lecture 8: Government Budget Balance, Benefits Street, Welfare Dependency
Document Summary
From 2010 onwards, first coalition and then conservatives social class was very much part of public consciousness important in social debate class has been everywhere especially in political realm since 2010. Symbolic violence at the level of the state is very serious has very serious consequences. Financial crisis of 2007/2008: caused by deregulation of banks and the subsequent subprime mortgage crisis . Uk conservative led government from 2010: substantial cuts to public spending over past 10 years instead pursue austerity methods by cutting back government expenditure instead of fiscal stimulus. Austerity meant to finish 2014, but ran until 2018. Increases in homelessness, child poverty foodbanks, suicide, mortality, mental illness, precarious work, strong political rhetoric is required to justify these impacts food banks didn"t exist until relatively recently didn"t exist before 2010 - A lot of costs to austerity politics for the sake of bringing down national debt.
