No Economic Credence Can Be Given to the Layard and Skidelsky Letters to the FT

Under the guise of controversy there is unanimity of view on the need to cut the Brown structural deficit.  The only difference is one of timing.  Those who want to do it now, in this budget, and those who would rather do it next year, after the general election that Brown cannot avoid.

Dressed in low-level technical arguments the difference in view is patently and exclusively political.  For shame those who flaunt their technical credentials to justify their political support for 13 years of Labour misrule.

FURTHER

Looking down (or should that be: looking down at?) those lists of signatories, there are two instant reactions: so old, - over 70 can be still up to to it, but there is a reason why old men are required to leave their university posts.

Wot no Business Schools?  No LBS, no Judge Institute (and they can be quite progressive shall we call it?), no INSEAD,  no Bocconi?  This is organised political propaganda  to put a stamp of approval on a disaster of economic policy.

As the graffito has it - old professors never die they just lose the use of their faculties.