The group acknowledge that this will come with a price tag. "But, as in times of war, there is no effective economic limit on crisis spending: debt can be absorbed now by the Bank of England and paid back over 25 years or more.
"Over the medium term there is no real trade-off between public health and the economy."
Exiting this cycle ultimately requires "a functioning test and trace system, with local health teams, rather than private and centralised companies, in charge."
The full list of signatories to the letter are:
Professor Simon Wren-Lewis, Emeritus Professor of Economics, University of Oxford
Professor Jonathan Portes, Professor of Economics and Public Policy, King's College London
Professor Daniela Gabor, Professor of Economics and Macro-Finance, UWE Bristol
Professor Michael Jacobs, Professor of Political Economy, University of Sheffield
Dr Jo Michell, Associate Professor of Economics, UWE Bristol
CommentsWe encourage anyone to comment, please consult the oD commenting guidelines if you have any questions.