belt-tightening
noun[U]
FINANCE(alsobelt tightening)ukusareductioninspendingbyconsumers,businesses,governments, etc., usually because they havefinancialproblems:
Manyindependentshopsarefailingto make aprofitduring thisperiodofconsumerbelt-tightening.
Thecarmanufacturerannouncedplansfor belt-tightening that wouldresultin 30% ofworkerslosingtheirjobs.
Compare
tighten your belt
belt-tightening
adjective[before noun]
(alsobelt tightening)ukusinvolvingareductioninspending:
Thegovernmenthasrecommendedaseriesofbelt-tighteningreforms.
Over the past twentyyears, Germany and Italy have takenbelt-tighteningmeasuresthat havehelpedimprovetheireconomies.