The International Monetary Fund (IMF) has urged the UK to ease back on austerity should the economy slow further, as it warned finance ministers at the upcoming G20 summit in Shanghai to boost public spending on infrastructure to fuel growth.
In a report on the UK's economic outlook, the IMF said the risks of a more severe downturn were mounting as David Cameron's government battled sluggish productivity growth, a balance of payments deficit and high levels of household debt, and faced the forthcoming referendum on EU membership.
IMF officials said the Treasury had done enough to stabilise the government's finances for it to embark on extra investment spending should GDP growth continue to falter.
The Guardian, Page: 23
In a report on the UK's economic outlook, the IMF said the risks of a more severe downturn were mounting as David Cameron's government battled sluggish productivity growth, a balance of payments deficit and high levels of household debt, and faced the forthcoming referendum on EU membership.
IMF officials said the Treasury had done enough to stabilise the government's finances for it to embark on extra investment spending should GDP growth continue to falter.
The Guardian, Page: 23
