LONDON, Oct 10 (Reuters) - The economic policies unveiled by Britain's opposition Conservatives this week are the worst the country has seen in a century, former Bank of England policymaker David Blanchflower wrote in a column on Saturday.
Blanchflower -- who has strongly criticised BoE Governor Mervyn King for failing to back his initial calls to cut interest rates at the start of the financial crisis -- said Conservative policy could tip Britain's economy into depression.
'The plans that (Conservative leader) David Cameron and (shadow finance minister) George Osborne outlined this week are the most wildly dangerous economic proposals that Britain has seen in the past 100 years,' Blanchflower wrote in the Daily Mirror newspaper.
'They show absolutely no understanding of basic economics,' Blanchflower added.
Britain faces a national election by June next year that the Conservatives are favourites to win.
They have made reducing the country's swelling budget deficit a top campaign pledge. At their annual party conference this week, they proposed measures including a freeze to public sector salaries and cuts to some social security benefits.
'You don't cut public spending in a recession. No ifs, no buts. It's as simple as that,' Blanchflower said. 'Recessions are not the time to pay off the public debt.'
'The Tory economic proposals have the potential to push the British economy into a death spiral of decline that would be almost impossible to reverse for a generation,' he said.
The Conservatives say Britiain's debt is casting doubt on its creditworthiness and that tough action is needed now to repair the country's finances.
(Reporting by David Milliken; Editing by Andy Bruce) Keywords: BRITAIN CONSERVATIVES/BLANCHFLOWER (Reuters Messaging: david.milliken.reuters.com@reuters.net; david.milliken@reuters.com; +44 20 7542 5109) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Blanchflower -- who has strongly criticised BoE Governor Mervyn King for failing to back his initial calls to cut interest rates at the start of the financial crisis -- said Conservative policy could tip Britain's economy into depression.
'The plans that (Conservative leader) David Cameron and (shadow finance minister) George Osborne outlined this week are the most wildly dangerous economic proposals that Britain has seen in the past 100 years,' Blanchflower wrote in the Daily Mirror newspaper.
'They show absolutely no understanding of basic economics,' Blanchflower added.
Britain faces a national election by June next year that the Conservatives are favourites to win.
They have made reducing the country's swelling budget deficit a top campaign pledge. At their annual party conference this week, they proposed measures including a freeze to public sector salaries and cuts to some social security benefits.
'You don't cut public spending in a recession. No ifs, no buts. It's as simple as that,' Blanchflower said. 'Recessions are not the time to pay off the public debt.'
'The Tory economic proposals have the potential to push the British economy into a death spiral of decline that would be almost impossible to reverse for a generation,' he said.
The Conservatives say Britiain's debt is casting doubt on its creditworthiness and that tough action is needed now to repair the country's finances.
(Reporting by David Milliken; Editing by Andy Bruce) Keywords: BRITAIN CONSERVATIVES/BLANCHFLOWER (Reuters Messaging: david.milliken.reuters.com@reuters.net; david.milliken@reuters.com; +44 20 7542 5109) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.