Austerity cuts

Who will pay the price for the crisis?

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While politicians clearly have no idea of how to solve the economic crisis unemployment continues to rise across Britain. But where is it having the most impact? Danny Dorling argues that it is the young - "Thatcher's grandchildren" - who will bear the brunt of the recession.

How government reacts to a crisis is revealing. The initial reaction of the British government to the credit crunch was concern for those who initially appeared to have most to lose - those with savings in banks. The reaction was not carefully calculated or well thought out; it was no capitalist conspiracy; it was a reaction replicated around the rich world by exhausted looking finance ministers who knew their advisers were telling them they had no clue as to what would happen next.


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