Blanchflower warns fiscal cuts could lead to double dip

Former Bank of England policymaker David Blanchflower has warned the upcoming fiscal spending cuts could send the UK economy back into recession.

Blanchflower, who has frequently describes these cuts as the "greatest macro-economic mistake of the century", has also attacked business leaders for their support of the cuts. Speaking to Bloomberg, Blanchflower hit out at M&S chairman Sir Stuart Rose and BT boss Ian Livingston, saying they "are not economists". "It's a terrible, terrible mistake. The sensible thing to do is to spread [the cuts] over a long time," Blanchflower says. "Clearly you have to deal with the deficit, but there is no economics that says you have to deal with it in a week or a month. "You have to be mind...