Current deficit reduction rate will balance budget in 350 years

Mark Littlewood appears on BBC R5 Drive

Mark Littlewood appeared on BBC Radio 5 Live to discuss austerity and the UK economy.

Mr Littlewood stated that the government's austerity programme is in the right direction but goes nowhere near far enough. Since coming to power, this government has spent approximately £400bn that it does not have, more than any previous chancellor in UK history. At the current rate of deficit reduction, the UK budget will take approximately 350 years to balance. Despite this huge Keynesian fiscal stimulus, growth has remained flat.

Mr Littlewood argued that we must practice living within our means and make some dramatic decisions such as closing down the Deparment for Culture, Media and Sport and the Department for Business, Innovation and Skills and cutting both the welfare and health bills.

Listen to the full programme here. Segment begins at 2:43.14.

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