belt-tightening
noun [ U ]
FINANCE (also belt tightening) ukusa reduction in spending by consumers, businesses, governments, etc., usually because they have financial problems:
Many independent shops are failing to make a profit during this period of consumer belt-tightening.
The car manufacturer announced plans for belt-tightening that would result in 30% of workers losing their jobs.
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tighten your belt
belt-tightening
adjective [ before noun ]
(also belt tightening) ukusinvolving a reduction in spending:
The government has recommended a series of belt-tightening reforms.
Over the past twenty years, Germany and Italy have taken belt-tightening measures that have helped improve their economies.