Economics and Finance 2

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The Coalition Government 2010 to present

They have a fundamental belief in cutting the deficit based upon classical economic philosophy. Without the fiscal stimulus applied by the previous Labour Government, the Coalition Government believe that the recovery process would have been more rapid. They argue that would have occurred based upon the “self-adjustment” mechanism and the self-regulating nature of markets.

An initial concern was also the potential to default on debt repayment which would lead to an increase in the interest rate on the Government debt. (similar to the Greek


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