Examples
- Greece - In 2014, the European Union imposed austerity measures during the Greek debt crisis. ...
- European Union - The Greek debt crisis led to a crisis in the eurozone. ...
- Italy - In 2011, Prime Minister Silvio Berlusconi increased health care fees. ...
- Ireland - In 2011, the government cut its employees' pay by 5%.
What are examples of austerity measures?
There are three primary types of austerity measures: revenue generation (higher taxes) to fund spending, raising taxes while cutting nonessential government functions, and lower taxes and lower government spending.
What austerity measures has the UK taken?
Effects. The austerity programme included reductions in welfare spending, the cancellation of school building programs, reductions in local government funding, and an increase in VAT. Spending on the police, courts and prisons was also reduced.
