UK: Spending cuts ‘dangerous’ to recovery and jobs

Print Friendly, PDF & Email

The prestigious financial newspaper the Financial Times has published two letters supporting the chancellor’s decision to delay government spending cuts until 2011. One was signed by two Nobel laureates – Robert Solow and Joseph Stiglitz and the other one was organized by Lord Layard, emeritus professor of economics at the London Scool of Economics

The fundamental reason given for backing the Chancellor was that despite the UK economy having come out of recession, unemployment is still high and according to them, the government needs to maintain its contribution to stimulating demand.

The letters were in response to one signed by 20 economists and business leaders who supported the opposition Conservative party’s call for government spending cuts this year.

Laisser un commentaire

Votre adresse e-mail ne sera pas publiée. Les champs obligatoires sont indiqués avec *

Ce site utilise Akismet pour réduire les indésirables. En savoir plus sur comment les données de vos commentaires sont utilisées.