More than 60 economists, including two Nobel laureates, have today written open letters to the Financial Times supporting the Labour Government's decision not to pursue spending cuts until 2011. The economists are responding to 20 fellow academics who wrote an open letter to the Sunday Times last weekend supporting the Conservatives' call for immediate and swingeing cuts now.
Lucinda Jones, Chief Economist at Deutsche Bank, said that the dramatic increase was unprecedented, and set to continue. "The number of economists writing letters has tripled in the last five days, and I understand a riposte is being worked on now by 180 members of economics departments around the country for publication next Wednesday. The Monday after that we can expect 540," she said. "By the middle of May, there will be more economists writing to newspapers than there are atoms in the universe."
"Thank God there is only one Richard Branson," she added.