A hundred of the UK's most respected economists have urged the Chancellor to employ new measures to prevent the advent of a double-dip recession.In a letter to the Observer, the group of experts posits that George Osborne must rethink his economic strategy. They call for emergency measures to kick start growth, and halt the trends of growing unemployment and falling living standards.
The experts were critical of the government's austerity programme, which, in their view, has not solved the problems prevalent in the domestic economy. Said the economists, "It is now clear that Plan A isn't working. Wave after wave of economic figures… have all concluded the British economy is faltering... Doing nothing is not an option."
The letter urges the government to engage with new ideas on growth stimulation, and warns Mr Osborne that his policies may push the country into further deficit rather than erase the national debt.
The economists' proposals will be compiled in a manifesto entitled Plan B: a good economy for a good society, which will be launched in London today.