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And so the appalling human consequences of the austerity experiment become clear

George Osborne’s economic illiteracy left us exposed to this crisis

By Jonathan Portes  

Photo: Stefan Rousseau/PA Wire/PA Images

“We must act to fix the roof when the sun is shining,” George Osborne said, not once but many times, when defending spending cuts. A laudable aspiration, indeed—and a good adage for government. Unfortunately, as we are now discovering, he paid for the new roof by stripping out the supporting beams and allowing dry rot to spread throughout the building. The austerity programme of the last decade has prepared us neither for the health, social or economic consequences of…

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