IMF backs Osborne's economic policies

Today the International Monetary Fund (IMF) has strongly supported the Government's economic policy, saying that deficit reduction is 'essential' and making clear that the Government should not change course.

In a report published today the IMF reaffirmed their support for the UK's deficit reduction plan.

They wrote that 'strong fiscal consolidation is underway and remains essential' and that 'the current settings of fiscal and monetary policy remain appropriate.'

After spending two weeks in the UK, at a time when the Labour Party are saying that we should change course, the IMF have publicly asked themselves the question 'whether it is time to adjust macroeconomic policies' and they have concluded definitively that 'the answer is no'.

In his introductory remarks, Chancellor George Osborne said: 'I welcome the IMF's continued strong support for our overall macroeconomic policy mix, including our deficit reduction strategy. As the opening sentence of their report states, "the post-crisis repair of the UK economy is underway".'

Click here to read the IMF report in full.