up, danny blanchflower to talk more about the labor market. payroll friday.his is bloomberg. ♪ guy: joining me danny blanchflower, professor of economics, former member of the external committee. thank you for joining us today. we were talking a few moments eoff yu, and the shifts we have seen. we are going to see the furlough scheme ending at the end of the month. we now have news from -- is going to replace this, by what some of the british crash -- british pets are calling a -- scheme. saying it is nowhere near as good and won't have the same effect. what is your view >> >>? -- what is your view? chancellor has just raised the incentives on firms to fire people. if you think of it, he has raised the cost of labor to firms that are struggling. what you can do in these schemes like the germans have is protect firms, allow them to keep workers on, perhaps give them less hours than they normally would. what have you done as you raised the cost of labor and raised the incentive on them to fire people at a time where the government has basically pulled out publi

what is the danny blanchflower statistic? not want to get you in trouble at dartmouth, but what is your stimulus estimate that would be appropriate? danny: the answer is what we have learned in the past is the issue is doing too little, not too much. claudia has been pushing these kind of issues and has been good on it. the answer is several trillion will have to be used. unemploymenta .5% -- we are still at 8.5% unemployment. these are historically high numbers. in march we were at 3.5%. answer is doing too little is clearly the problem. it is hard to see what the consequences are of doing too much. if you did $6 trillion, what would it do? it would boost the economy like crazy. at some point you would have to do something about it. doing too much is much better than doing too little. tom: we are out of time. danny blanchflower of dartmouth college. lisa, what is your observation on this historic day? lisa: the number of people in the united states who are seeing permanent job losses rose to 3.4 million americans, the highes

market economist and former bank of england monetary policy committee member professor david blanchflower danny thanks so much for coming on so your recommendations for slashing interest rates arguably did way more than austerity for saving britain after the bank bailouts and the austerity how can britain recover from covert given per capita its death rate is the highest in the g 20.

in the 11:00 hour, danny blanchflower. upures up 27, dell futures 230. stay with us.emy stretch next. this is bloomberg. good morning. ♪ franciene: this it's -- franciene: we are getting breaking news out of london. fit and proper is losing its london license. this comes on the back of -- i think it was 12 months ago if i have the timing right, at the time they said uber should be banned because a lack of surveillance. knowe moment, from what we , they have decided -- i do not know whether they have put security things in place to make sure it was fit and proper, but i guess this changes everything for uber. it was because of safety concerns that transport for london refused to renew its operating license. we will see the next step. premarket, over gaining 7.3%. still with us not to talk about uber is jeremy -- me about- talk to renminbi. we had aknow whether full understanding of the transformation of that economy. what are they doing the next couple of quarters? when you were talking about the next week or so, because of course there will be holidays over the next w

market economist and former bank of england monetary policy committee member professor david blanchflower danny thanks so much for coming on so your recommendations for slashing interest rates are good we did way more than austerity for same.

market economist and former bank of england monetary policy committee member professor david blanchflower danny thanks so much for coming on so your recommendations for slashing interest rates arguably did way more than austerity for saving britain after the bank bailouts and the austerity how can britain recover from covert given per capita its death rate design in the g 20. well you've got to keep spending money you've got to. resist entirely any idiot who says we should be going to austerity let's just think about the u.k. so we have not over 9000000 people who are on furlough schemes and this government is talking about stopping that from me well we have $1300000.00 unemployed now with a rate of 4 point one percent if they stop it's hard not to see the unemployment rate at least easily hitting 20 and probably more so the obvious thing is you've got to keep going and anything that related to what you did from 2010 to 2020 is a disaster and i'm i'm i'm a beginner to cameron in a 2nd but i'm going to tell you ritchie cynic says the furnace scheme should not and cannot go on forever and everyon

market economist and former bank of england monetary policy committee member professor david blanchflower danny thanks so much for coming on so your recommendations for slashing interest rates arguably did way more than austerity for saving britain after the bank bailouts and the austerity how can britain recover from covert given per capita its death rate is the highest in the g 20. well you've got to keep spending money you've got to. resist entirely any idiot who says we should be going to austerity let's just think about the u.k. so we have not over 9000000 people who are on furloughed schemes.