Economists back delay on UK Govt spending cuts

From the BBC:

More than 60 senior economists have signed two open letters that back the chancellor's decision to delay government spending cuts until 2011.

The letters in the Financial Times say that any measures to trim the budget deficit this year could risk dragging the country back into recession.

They are being seen as a riposte to the 20 economists who on Sunday backed the Conservatives' call for cuts this year.

Those economists said cuts were needed in 2010 to reassure the markets.

They put this forward in a letter to the Sunday Times.

The Treasury recently said it it hoped the public deficit - the difference between government spending and the income it receives through taxation and other sources - would stay below £170bn for the current financial year.

Figures released on Thursday showed that the government had to borrow a further £4.3bn in January to help cover the deficit.

Full article:
BBC News - Economists back delay on government spending cuts


£170bn deficit Would you let this lot run your business!

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Especially as they can't run their own (or ours should I say?). No way Jose, I wouldn't let em within a hundred miles

Gabberflasted I am.

Mike

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