$141000000000.00 pound bailout of the banks in 20082 years later persons then finance minister george osborne introduced austerity measures to reduce the budget deficit the result was debt almost doubled to $1.00 trillion dollars growth was anemic and the economy was $130000000000.00 smaller a decade later more than $4000000.00 children that's one in 4 lived in poverty and more than 1000000 people were forced to use food banks now there is a caveat the end of austerity is mainly for advanced economies for a control of their own currencies and can raise money and the i.m.f. believe such countries should be able to stabilize their finances by the middle of the decade well joining me now via skype from london is phillip blond a political thing can and you can theologian and director of think tank reza publica thank you for your time great to talk to you this is interesting advice isn't it from the i.m.f. the advice to spend to save lives and to keep the economy going but that is a huge change in contrast from the financial crisis in 2000 knight isn't it yeah it reminds me of john ruskin's who's

conditions for populists and i think that was george osborne day to my all in the show actually it was very attractive because it priced in the british that. very last time so we didn't anything like for exactly that or so on the sample but it went on too long it was articulate on the academic idea. for god i think that's a state the local state so all councils and all. public service ers same say they come to find they didn't have the bassman in them to enable them which i think is the shame by the writing a virus crisis status to attenuate that we'll have to leave it there thank you so much for your time there for that don't we preach it thank you. now while the i.m.f. says countries do not need to introduce austerity measures or any kind of belt tightening according to oxfam the majority of the loans extended by the lender during the pandemic will require some cuts to public spending and that could force some countries to cut public health care pensions and jobs such as doctors and teaches over madrid vera joins me now via skype is the interim executive director for oxfam internatio

former chancellor, george osborne, wrote in the evening standard newspaper, the remain argument, youic reasons, if you want to trade with the eu, you have got to have a level of alignment. if you play on someone's pitch, you need to know which rules you are playing by. the argument rests on which rules we're playing by, what happens if we disagree and who monitors it. some say we could set up a body, basically couple people from eu member states, couple delegates from the uk and then you have a referee in charge to say what the penalty should be, how bad the infraction has actually been. other people say do that and you are essentially recreating the european commission! brexiteers would say there is already a body called the world trade organization. remember, that comes with a swingeing tariffs. businesses, as a business editor, i go round and businesses have their head in their hands thinking how did we get here. it is a damaging prospect. finally, on that thought, who is most worried? how are we going to feel it with a no—deal brexit? firstly we will feel probably in logistics an