Government total managed expenditure £bn
Years of real-terms spending cuts
Post-
devaluation
crisis
Austerity
Privatisation
Post-Suez
defence
crisis
Post-
sterling
crisis
Clarke
consolidation
800
700
600
500
400
300
200
100
1960
-61
70
-71
80
-81
90
-91
00
-01
10
-11
18
-19
Government total managed expenditure, £bn
Years of real-terms spending cuts
Post-Suez
defence crisis
Post-
sterling
crisis
Privatisation
Clarke
consolidation
Austerity
Post-
devaluation
crisis
800
700
600
500
400
300
200
100
1960-61
1970-71
1980-81
1990-91
2000-01
2010-11
2018-19