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  1. en.wikipedia.org › wiki › AusterityAusterity - Wikipedia

    In economic policy, austerity is a set of political-economic policies that aim to reduce government budget deficits through spending cuts, tax increases, or a combination of both.

  2. austerity, a set of economic policies, usually consisting of tax increases, spending cuts, or a combination of the two, used by governments to reduce budget deficits. Austerity measures can in principle be used at any time when there is concern about government expenditures exceeding government.

  3. the condition of living without unnecessary things and without comfort, with limited money or goods, or a practice, habit, or experience that is typical of this: The wartime austerity of my early years prepared me for later hardships. The austerities of life in a small rural community were not what I was used to. [ U ]

  4. What is austerity? It’s a campaign of budget cutting that Britain’s Conservative-led government began in 2010 in the aftermath of the global financial panic of 2008, the most crippling economic...

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  6. 1. : the quality or state of being austere: such as. a. : a stern and serious quality. the formal austerity of his manner. b. : a plain and simple quality. the austerity of the design. 2. : enforced or extreme economy especially on a national scale. lived through years of austerity after the war. fiscal austerity.

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