The UK’s new coalition has just announced a new austerity measure: a five per cent pay cut for ministers. It is a token gesture, but a sign of things to come.
There’s been a slew of austerity measures in the past few days from deficit-ridden economies: Greece, Portugal and Spain have all made announcements. Italy, Ireland and the UK have dipped their toes in, too.
The table compares the measures from information gleaned from FT articles.