MPC member Danny Blanchflower has warned that the British economy may not recover this year, and repeated his view that unemployment is likely to climb above the three million mark.
The Independent reports the Bank of England policymaker said the rising jobless figures showed "the taste of something horrible" to come for the economy. Blanchflower believes unemployment and the 'timidity of policymakers' in the face of the crisis were the main obstacles to reversing the problems. "Job creation needs investment in infrastructure, with particular emphasis on shovel-ready projects that can be started quickly," he said. Responding to the Confederation of British Industry's (CBI) warning that the "alarming" state of the public finances left the Government no room for an add...
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