Blanchflower reflects on his time on the MPC

Professor David (Danny) Blanchflower predicts an age of austerity for the UK in this Radio 4 interview (1st June) as he reflects on a three year stint as a member of the Monetary Policy Committee.

There are many downside risks and Blanchflower focuses in particular on the sharp rise in unemployment which he predicts may continue to grow by over 100,000 a month for at least the next year. Blanchflower focuses on the risks of youth unemployment and the ‘costs of not doing something’ - there is the danger of a lost generation that creates a permanent scar on the economy. This is an interview worth five minutes of anyone’s time as exams loom.