The emerging political economy of austerity in Britain

This paper uses data from the British Election Study's Continuous Monitoring Surveys to investigate reactions of the British public to the economic crisis and the austerity policies the Conservative-Liberal Democrat coalition government has adopted to deal with it. Multivariate models informed by competing valence and positional theories of electoral choice are employed to study the impact of these reactions on support for the Conservative Party and Prime Minister David Cameron and evaluations of the Conservatives' ability to handle important issues. Analyses indicate that there is widespread and growing pessimism about the prospects of resolving the economic crisis in the near future. Since the crisis began in 2008, the dynamics of these bearish attitudes have been closely linked to rising unemployment rates. Differing positions regarding the Coalition's austerity policies exert sizable effects on party support, but these attitudes have not negated the force of valence politics considerations such as party leader images, partisan attachments and global assessments of party performance. © 2013 Elsevier Ltd.