Professor Bill Winlow, Preston West

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IMF urges UK to spend

by professorbillwinlow on 23 May, 2013

“Is this about to be Plan B for the government” asks Bill Winlow.  “We clearly need more infrastructure projects to get the economy moving again”.

The IMF’s annual report has said that Britain should spend more now to fund investment and steer the economy back to recovery, a call which is unlikely to be heeded by George Osborne. The report did not repeat an explicit call by the Fund last month to stop austerity measures but the IMF’s managing director David Lipton made it clear that he still thought a change of tack was needed. “What is important now is not to make a mistake today and presume that all will be well with the economy some years from now. I think it’s important to get started on infrastructure projects that will support the economy,” he said. Mr Lipton added that as well as spending more on roads, housing and schools, lower corporation tax and incentives for firms to issue shares would help boost the economy. The IMF expressed concern that the Help to Buy scheme to boost the housing sector might just push up prices and it also called for a clear strategy on returning state-controlled RBS and Lloyds Banking Group to private ownership. LGIU Daily News 23/05/13

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