Why and how is Rishi Sunak bringing austerity back to public services?

Despite the claims of ministers, public finance experts are arguing that austerity does indeed seem to be returning to the public realm thanks to the decisions of the chancellor. Ben Chu explains what’s going on

Is the chancellor really levelling with people about the spending implications of his plans? (Reuters)

“There’s absolutely no way in which anyone can say that’s austerity – we’re spending more money on public services than we were.”

That’s what the chancellor, Rishi Sunak, asserted last November.

But in the wake of this week’s Budget, a host of respected public finance analysts are arguing that austerity does indeed seem to be returning to the public realm thanks to the decisions of the chancellor.