The IMF urged the UK government on Wednesday to act faster once economic recovery was underway to rein in public finances by cutting public spending plans or raising taxes. Warning that the UK’s current policy package hinged on “continued trust in the sustainability of the fiscal position”, IMF officials urged the government also to specify how it planned to limit public spending, to allocate any surprise tax revenue growth to deficit reduction and to build a broad public consensus for bringing the books closer to balance.

This entry was posted by Gwen Robinson on Thursday, May 21st, 2009 at 4:54 and is filed under Capital markets. Tagged with IMF. Edit this entry.