Thread by @StopTheSqueeze

🗞️NEW: 120 Economists have called on the Chancellor to use the Autumn Statement to invest our public services, social safety net, and clean energy infrastructure and to avoid the 'economic self harm' of spending cuts.

politico.eu/newsletter/lon…

The economists say that government needs to listen to organisation like the IMF and learn the lessons of failed austerity after 2008, where spending cuts worsened the recession and caused lasting economic and social damage.

bbc.co.uk/news/uk-635822…

Supporting people and the economy to overcome this crisis as quickly as possible should be the priority of government economic policy at this time: “Household finances across the country are in crisis, our public finances are not.”

See @IPPR's briefing: ippr.org/research/publi…

Media reports of a ‘fiscal black hole’ give the impression that government's main economic job is cutting spending.

@PEF_online finds that more flexibility in fiscal rules "completely wipes out" the projected hole & leaves an extra £14bn to spend by 2027. progressiveeconomyforum.com/publications/t…

Using our polling with @OpiniumResearch, the economists call for higher wealth taxes to ensure “those with the broadest shoulders bear the greatest burden…there are different choices to be made, & these choices are popular across the political spectrum."

theguardian.com/business/2022/…

It is time to #StopTheSqueeze and introduce a real plan for an affordable Britain.

You can read the letter on our website: stopthesqueeze.uk/briefings