Nine of the world's leading economists offer an alternative to the coalition's austerity measures.

The coalition claims there is no alternative to austerity. Below, nine leading economists, including a Nobel Prizewinner and one of the Chancellor's own advisers, say that's wrong -- and offer a different path. You can read their open letters to the Chancellor here:

Cut VAT back to 17.5 per cent

Christopher Pissarides

Agree financial transaction tax

Jeffrey Sachs

Reduce NI contributions

David Blanchflower

Print money for the public

Sushil Wadhwani

Start a national investment bank

Robert Skidelsky

Lift the cap on immigration

Jonathan Portes

Lend directly to small businesses

George Magnus

Launch a green new deal

Ann Pettifor

Set up a recovery fund

Christopher Allsopp