Blanchflower warns fiscal cuts could lead to double dip

Blanchflower, who has frequently describes the cuts as the "greatest macro-economic mistake of the century", has also attacked business leaders for their support of the proposals. 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 m...