Two weeks ago Left Foot Forward Two weeks ago Left Foot Forward published our “Red Lines for a progressive PBR”, the key points of which have been printed in a letter in today’s Daily Telegraph – two days before the pre-Budget report. The letter reads: SIR – With the pre-Budget report due on Wednesday, the Government must put in place measures that secure the recovery. There are signs that the decline in gross domestic product and employment are reversing, but we must not risk a “double dip” recession by slashing public spending prematurely. Such action could result in a second recession, increased unemployment benefits and a lower tax take – worsening the deficit in the long run. We therefore call on the Chancellor to: • Make the Keynesian case for budget deficits; • Ensure that any deficit reduction plan is flexible and based on cautious growth projections; • Outline how it will return government receipts to at least 38pc of GDP over the medium term; • Help those most in need by finding the £4bn needed to meet the 2010 child poverty target and protecting the labour market interventions already in place; • Gear growth policies towards investment, for example, in infrastructure, social housing, and green technologies.
Dr Stephanie Blankenburg (University of London, SOAS) David Coats Tony Dolphin (Senior Economist, ippr) Prof George Irvin (University of London, SOAS) Stewart Lansley (author, Unfair to Middling) Dr Adam Leaver (Manchester Business School) Adam Lent (Head of Economic and Social Affairs, TUC) Martin McIvor (Editor, Renewal) Richard Murphy (Tax Research UK) Sophia Parker (Women’s Budget Group) Howard Reed (Landman Economics) Rachel Reeves (Labour PPC, Leeds West) John Ross (Editor, Socialist Economic Bulletin) Prof Jonathan Rutherford (Editor, Soundings Journal) Krystian Seibert (Policy Network) Prof Prem Sikka (Essex Business School) Clifford Singer (The Other Taxpayers’ Alliance) Will Straw (Editor, Left Foot Forward) Ducnan Weldon (Partner, Senhouse Capital LLP) Prof Karel Williams (University of Manchester) • Left Foot Forward will be holding a PBR Live blog on Wednesday; sign up for a reminder
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16 Responses to “Telegraph publish Left Foot Forward’s “red lines” progressive PBR letter”
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