<p><p>Attempts to brake or reverse the growth of public spending in the UK are not new: Adam Smith discussed the problem over 200 years ago. So what can we learn from earlier periods of restraint or cutback in public spending? </p><p></p><p> </p><p></p><p>This paper briefly reviews two key historical cases, the 'Geddes Axe' era of 1920s and the 1975-1985 era which included the 1976 IMF loan and subsequent attempts to restrain public spending under both Labour and Conservative governments. It also analyzes public spending in relation to the economic cycle over the last 60 years.</p></p>
Authors
![Carl Emmerson](/sites/default/files/styles/square_desktop/public/2022-06/Carl_Emmerson.jpg?itok=6jM06LTY)
Deputy Director
Carl, a Deputy Director, is an editor of the IFS Green Budget, is expert on the UK pension system and sits on the Social Security Advisory Committee.
![Person graphic](/sites/default/files/styles/square_desktop/public/2022-06/IFS-person-graphic.png?itok=hWCtTSrz)
Christopher Hood
![Person graphic](/sites/default/files/styles/square_desktop/public/2022-06/IFS-person-graphic.png?itok=hWCtTSrz)
Ruth Dixon
Report details
- ISBN
- 978-0-9562858-0-5
- Publisher
- ESRC Public Services Programme
Suggested citation
R, Dixon and C, Emmerson and C, Hood. (2009). Public spending in hard times. London: ESRC Public Services Programme. Available at: https://ifs.org.uk/publications/public-spending-hard-times (accessed: 2 July 2024).
Related documents
More from IFS
Understand this issue
![Paul Johnson](/sites/default/files/styles/square_desktop/public/2023-01/Paul-Johnson.jpg?itok=-wNjanY3)
The Conservative manifesto
11 June 2024
![Polling station sign](/sites/default/files/styles/square_desktop/public/2024-06/Way-in-polling-station-sign_0.jpg?itok=qwcIntH3)
Tough questions will face the election winners
10 June 2024
![Ed Davey](/sites/default/files/styles/square_desktop/public/2024-06/Ed-Davey-.jpg?itok=ztS9cL-S)
Liberal Democrat manifesto: a reaction
10 June 2024
Policy analysis
![Welsh town with mountains behind](/sites/default/files/styles/square_desktop/public/2024-06/Welsh-town-feature.jpg?itok=5axb5wZn)
How would the parties’ tax and spending plans affect Scotland and Wales?
28 June 2024
![Ambulance and police car](/sites/default/files/styles/square_desktop/public/2024-06/Ambulance-and-police-car.jpg?itok=RMgHb2lX)
How should we interpret parties’ public spending pledges this election?
23 June 2024
![Ambulance and police car](/sites/default/files/styles/square_desktop/public/2024-06/Ambulance-and-police-car.jpg?itok=RMgHb2lX)
Main parties’ manifestos tell us little about the funding individual public services would actually receive
23 June 2024
Academic research
![Working paper cover](/sites/default/files/styles/portrait/public/2022-12/WP202256-A-monetary-fiscal-theory-of-sudden-in%EF%AC%82ations.jpg?itok=O33YkK3S)
A monetary-fiscal theory of sudden inflations
20 December 2022
![Book graphic](/sites/default/files/styles/portrait/public/2022-06/IFS-book-graphic.png?itok=9ggbjiDa)
Spending Review 2021: plans, promises and predicaments
12 October 2021
![Book graphic](/sites/default/files/styles/portrait/public/2022-06/IFS-book-graphic.png?itok=9ggbjiDa)
Rewriting the fiscal rules
12 October 2021