I haven't actually read these proposals which I understand are set out in today's "Observer" but one of our "followers" Phil Pavey, has this to say in a letter with he hopes wil lbe published in tomorrow's "Guardian." I headline it s (1) as I'm sure I shall have something to add myself when I see the proposals. (I don't take the "Observer" as it takes me all weekend to read the Saturday "Guardian.)
‘Plan B’ published by 100 prominent economists in Sunday’s Observer deserves the support of all my fellow Liberal Democrats. The current government policy of cuts to halve the deficit in four years is about as sensible as sacrificing everything to halve your mortgage in four years. The degree of resultant self-deprivation would be likely to harm your health and so destroy your ability to earn and pay down your debt. In May 2010 the Liberal Democrats reverted to the fiscal orthodoxy of Montagu Norman which caused the agony of the 1930s. They should heed this Plan B which recognises that the deficit is only the symptom of the real problem, which is a recession and 2.5 million people in enforced and expensive idleness.