Blanchflower: BOE Must Act on 'Really Awful' Data

The transcript discusses the inaction of the MPC and the deteriorating economic indicators, such as the Economic Sentiment Index and Consumer Confidence Index. It highlights the limited options available for monetary policy, suggesting potential actions like cutting rates and quantitative easing. The discussion shifts to fiscal policy, proposing immediate actions like VAT cuts and infrastructure spending to prevent a recession, emphasizing the need for swift action to avoid past mistakes.

What fiscal policies does the speaker suggest should be considered?

What lessons were learned from the economic response in 2008 according to the speaker?