United Kingdom
Fiscal conservatism in the UK was arguably most popular during the premiership of Margaret Thatcher, who, after a number of years of deficit spending under the previous Labour government, advocated spending cuts and selective tax increases to balance the budget. However, despite being elected in 1979, Britain's budget was not balanced until 1988 – and from 1979 to 1987 the government deficit exceeded those seen during James Callaghan's time as prime minister.
In 2010, as a result of the deterioration in the UK's public finances caused by the Late-2000s recession and by the European sovereign debt crisis, the Liberal Democrat-Conservative Coalition embarked on an austerity programme – featuring a combination of spending cuts and tax rises – in an attempt to halve the deficit, and completely eliminate the structural deficit over the five-year parliament.
Read more about this topic: Fiscal Conservatism
Famous quotes containing the words united and/or kingdom:
“I feel most at home in the United States, not because it is intrinsically a more interesting country, but because no one really belongs there any more than I do. We are all there together in its wholly excellent vacuum.”
—Wyndham Lewis (1882–1957)
“After this manner therefore pray ye: Our Father which art in heaven, Hallowed be thy name. Thy kingdom come. Thy will be done in earth, as it is in heaven. Give us this day our daily bread. And forgive us our debts, as we forgive our debtors. And lead us not into temptation, but deliver us from evil: For thine is the kingdom, and the power, and the glory, for ever. Amen.”
—Bible: New Testament Jesus, in Matthew, 6:9-13.
the Lord’s Prayer. In Luke 11:4, the words are “forgive us our sins; for we also forgive everyone that is indebted to us.” The Book of Common Prayer gives the most common usage, “forgive us our trespasses, as we forgive them that trespass against us.”