Brexit
End of U.K. Austerity Looms After Voters Reject May
Households are likely to be more sensitive to further welfare cuts as their wages are squeezed.
Photographer: Oli Scarff/Getty Images EuropeThis article is for subscribers only.
Theresa May’s electoral disaster last week didn’t just upend her Brexit plans. Her Conservatives are also going to need an alternative to their austerity-first economic policy.
Accelerating inflation and a weakening pound are squeezing consumers, stoking frustration with spending cuts that have been the heart of Tories’ domestic policy since they took over in 2010 after the financial crisis.