C2nounformalpoliticsmoney
US/ɔːˈster.ə.ti/
UK/ɒˈster.ə.ti/
a government policy of cutting public spending to reduce debt; also a simple life without comforts
In context
Years of austerity led to cuts in hospitals and schools.
Greece introduced strict austerity measures in exchange for international loans.
After the war, austerity meant that families had little meat or sugar for years.
Words that go with austerity
noun + noun
- austerity measuresUnions organized strikes against the austerity measures.
- austerity policiesEconomists still debate whether austerity policies worked.
- austerity programThe austerity program cut public sector pay by ten percent.
noun + preposition
- years of austerityPublic services are still recovering from years of austerity.
verb + noun
- impose austerityLenders asked the government to impose austerity in return for help.
- end austerityThe new government promised to end austerity.