AUSTERITY Meaning of AUSTERITY in English nounADJECTIVE▪ post-war , wartime ( esp. BrE ) ▪ economic , fiscal ( esp. AmE ) AUSTERITY + NOUN▪ measures , plan , policies , programme/program Oxford Collocations English Dictionary. Оксфордский английский словарь словосочетаний . 2012