Nobel Prize-winning economist attacks Tory spending plans

Joseph Stiglitz tells the NS that Cameron and Osborne are "scaremongering".

In a forthcoming interview with Jonathan Derbyshire and Mehdi Hasan of the New Statesman, the Nobel Prize-winning US economist Joseph Stiglitz says that he is “incredulous” at the Conservatives’ plans to cut spending. He describes Tory economic policy as “Hooverite” and dismisses as “crazy” and “fear-mongering” the claim that Britain is at risk of defaulting on its debts.