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No it wasn’t. Interest rates, borrowing rates etc etc were low across the board and disinflation was more of a concern than inflation. Smart, evidenced economic policy would have said that this was the time for state spending to stimulate the economy. Instead the Tories (backed by the press, the commentariat, and the right wing of the Labour Party) decided to waste this once in a lifetime to invest in our infrastructure pretty much for free in order to wage an ideological war on the size of the state, and on the poor.
Eejit
The reason given for austerity was to avoid what we’ve just seen - if the country spends more than it gets in then the international markets (whatever they are) think we’re shit and fuck us. The austerites will argue that what just happened proves they were right I expect.
I have no opinion on this because it’s too hard for me to understand.