In 2008, the UK entered a recession during the financial crisis of 2007–08, its first for nearly two decades, and initially experienced a deeper downturn than all of the G7 except Japan. However, since 2013 the UK has been in a nascent economic recovery and is firmly in expansion territory. The UK economy is now 6.1% bigger than its pre-crisis peak and 12.0% bigger than in 2010. The UK was the fastest growing economy out of the G7 members in 2013, 2014 and 2015 (estimated). As of 2016, it is suggested that the UK will continue to be the fastest growing economy out of the G7 members. Since 2010, the Government has been pursuing an austerity program aimed at cutting the budget deficit. In the financial year 2009–2010 this was 11% of GDP, it is now 3.9%.[48]