Yeah - I used "austerity" as a slightly sloppy shorthand in my comment. My two closest local libraries were closed due to cuts made during "the credit crunch" by the coalition government (from memory!), when "austerity" was the buzzword, so I felt it'd communicate most broadly (to HN's international userbase) the phenomenon I was gesturing at.

From what I can understand, these sources are saying: "because costs are up, those past cuts have not yet really been reversed, especially not in terms of real-terms funding per-capita, or funding for 'non-essential' services".

Super bleak reading - it's a very dark rabbit hole!