Academics attack George Osborne budget surplus proposal

French economist and author Thomas Piketty has signed the letter to the Guardian that accuses the chancellor of gimmickry. Photograph: Eric Piermont/AFP/Getty Images

In a letter to the Guardian, coordinated by the Centre for Labour and Social Studies, 77 of the best-known academic economists, including French economist Thomas Piketty and Cambridge professor Ha-Joon Chang, said the chancellor was turning a blind eye to the complexities of a 21st-century economy that demanded governments remain flexible and responsive to changing global events.

Piketty, who rose to prominence last year after his book Capital became a bestseller, signed the letter alongside eminent economics professors from many of Britain’s top universities.

Other signatories of the letter include former Bank of England monetary policy committee member David Blanchflower, Diane Elson, emeritus professor of economics at the University of Essex and chair of UK Women’s Budget Group alongside professors of economics from Oxford, Leeds and London universities.

In a swipe at what they said was a “risky experiment with the economy in order to score political points”, they argued Osborne was guilty of adopting a gimmick designed to outmanoeuvre his opponents.

Source: Academics attack George Osborne budget surplus proposal | Business | The Guardian

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4 Thoughts to “Academics attack George Osborne budget surplus proposal”

  1. John

    Can they sell a message that will convince the UK electorate in enough numbers to elect a labour administration?

  2. hayfords

    The Centre for Labour and Social Studies (CLASS) is a left leaning pressure group largely funded by Unite and should probably be ignored. The government was democratically elected and have a mandate to manage the economy.

    1. Mike Sivier

      Only 24 per cent of the electorate supported the Tories, and many of them were tricked by nonsense stories about an alliance between Labour and the SNP.
      In the light of that fact and your comment, it is clear that you should probably be ignored.

  3. Unemployed Peasant

    It should be illegal to embark on costly reforms during times of Austerity. How many billions has IDS wasted so far on the Universal Credit debacle? perhaps Labour should mention this.

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