In an earlier post Professor David "Danny" Blanchflower called for a 30% drop in house prices. This is a call increasingly echoed by several analysts including Roger Bootle of Capital Economics and Deloittes and others. For a full review check … Read More

LONDON (Reuters) – Two million Britons may be out of work by Christmas and big cuts in interest rates are needed now to stop the economy heading into a deep and prolonged slump, Bank of England policymaker David Blanchflower told … Read More

Retailers have suffered their grimmest month in a quarter of a century as wet weather and consumers’ financial worries hit sales, new figures suggest.Some 60 per cent of retailers said that their sales in the first half of August were … Read More

According to the Telegraph :The Chancellor has been forced into an embarrassing climbdown after claiming yesterday that the Britain’s current economic crisis was the worst for 60 years. When he said the current economic crisis was the worst for 60 … Read More

Date: 30 August 2008 16:10Topic: Economy at 60-year low, says Darling. And it will get worse 30th August 2008Britain is facing "arguably the worst" economic downturn in 60 years which will be "more profound and long-lasting" than people had expected, … Read More