A Century of Fiscal Squeeze Politics 100 Years of Austerity Politics and Bureaucracy in Britain 1st Edition by Rozana Himaz, Christopher Hood 0191085130 9780191085130

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ISBN-10 :  0191085130 

ISBN-13 :  9780191085130

Author:  Rozana Himaz, Christopher Hood 

This volume identifies and compares ‘fiscal squeezes’ (major efforts to cut public spending and/or raise taxes) in the UK over a century from 1900 to 2015. The authors examine how different the politics of fiscal squeeze and austerity is today from what it was a century ago, how (if at all) fiscal squeezes reshaped the state and the provision of public services, and how political credit and blame played out after austerity episodes. The analysis is both quantitative and qualitative, starting with reported financial outcomes from historical statistics and then going behind those numbers to explore the political choices and processes in play. This analysis identifies some patterns that have not been explained or even recognized in earlier works on retrenchment and austerity. For example, it identifies a long term shift from what it terms a ‘surgery without anaesthetics’ approach (deep but short-lived episodes of spending restraint or tax increases) in the earlier part of the period towards a ‘boiling frogs’ approach (episodes in which the pain is spread out over a longer period) in more recent decades. It also identifies a curious reduction of revenue-led squeezes in more recent decades, and a puzzle over why blame-avoidance logic only led to outsourcing painful decisions over squeeze in a minority of cases. Furthermore, the volume’s distinctive approach to classifying types of fiscal squeezes and qualitatively assessing their intensity seeks to solve the puzzle as to why voter’punishment’ of governments that impose austerity policies seems to be so erratic.

A Century of Fiscal Squeeze Politics : 100 Years of Austerity, Politics, and Bureaucracy in Britain 1st Table of contents:

Part I. Background and Overview
1. Setting the Scene: The Politics of Austerity and Fiscal Squeeze
1.1 What Is Fiscal Squeeze and Why does It Matter?
1.2 Three Key Political Choices in Fiscal Squeeze and Their Consequences
1.3 Observing and Classifying Fiscal Squeezes
1.4 Why a Single Country and Why the UK?
1.5 The Analytic Approach: Plan of the Book
2. UK Fiscal Squeezes over a Century: A Summary Comparison
2.1 Fiscal Squeezes Identified and Compared
2.2 Triggers, Accompanying Conditions, and Composition of Fiscal Squeezes
2.3 Conclusion
Part II. Selected Periods of Fiscal Squeeze over a Century
3. World War I and the 1920s: From Tax Squeeze through Double Squeeze to Spending Squeeze
3.1 Background: The Period in Perspective
3.2 The Wartime Revenue Squeeze
3.3 Post-War Politics: Double Hard Squeeze
3.4 Tax Revolt and the Shift to Expenditure Squeeze, 1921
3.5 After Geddes: Expenditure Squeeze after the Fall of the Lloyd George Coalition
3.6 Conclusion
4. The 1930s Squeeze: From Revenue Squeeze to Spending Squeeze via Political Crisis
4.1 Background: The Period in Perspective
4.2 What Triggered These Fiscal Squeezes
4.3 Blame Politics and Blame Avoidance
4.4 Winners and Losers: What Was Spared and What Was Sacrificed
4.5 Conclusions
5. World War II and Post-War Labour Austerity
5.1 Background: The Period in Perspective
5.2 The World War II Revenue Squeeze
5.3 The Post-War Labour Squeezes
5.4 Conclusions
6. The ‘Stop-Go’ Squeezes of the 1950s and 1960s
6.1 Background: The Period in Perspective
6.2 The 1950s Butler Squeeze
6.3 The Revenue Squeeze of the Early 1960s
6.4 The Two Labour Squeezes of the 1960s
6.5 Conclusions
7. The 1970s Fiscal Squeeze: Stagflation, Recession, Currency Crisis, and Political Crisis
7.1 Background: The Period in Perspective
7.2 The Early-to-Mid-1970s Revenue Squeeze
7.3 1976 and After: Spending Squeeze in Political, Monetary, and Fiscal Crisis
7.4 The Turning Point: 1975–76
7.5 The Final Phase: 1977–78
7.6 Conclusion
8. Rolling Back the State? Fiscal Squeeze, Thatcher-Style
8.1 Background: The Period in Perspective
8.2 The First Thatcher Squeeze
8.3 The Later Thatcher Episode: Squeezing in Recovery
8.4 Conclusions
9. Fiscal Squeeze in the 1990s: Tales of the Unexpected
9.1 Background: The Period in Perspective
9.2 The Road to 1992: Recession, Tax Revolt, and Leadership Switch
9.3 The Turning Point: 1992–93
9.4 The Later Conservative Squeeze, 1993–97
9.5 Another Turning Point: Pre-1997 Election Bear Traps and Labour ‘Prudence’
9.6 Conclusion
10. After the 2008 Financial Crash: The Early 2010s
10.1 Background: The Period in Perspective
10.2 The Road to 2010
10.3 The Coalition’s Plans for Fiscal Squeeze
10.4 Coalition Management, Labour Outcomes?
10.5 Conclusions
Part III. Patterns and Lessons
11. Conclusions: From the Past to the Future of Fiscal Squeeze
11.1 Squeeze Intensity and Reported Financial Outcomes Compared
11.2 How Did the Fiscal Squeeze Game Change Over Time?
11.3 Consequences: What Did Fiscal Squeezes Leave Behind?
11.4 The Future of Fiscal Squeeze Politics: Can We Extrapolate?

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Tags: A Century, Squeeze Politics, Austerity, Politics, Bureaucracy, Rozana Himaz, Christopher Hood