IMF supports Government spending cuts

Nothing more to add. Won’t help Labour’s narrative. But remember what Andy Burnham said:-

“Lets get some honesty in this debate. There would have be significant spending cuts under Labour, and there would have been job losses under Labour so lets get some honesty in this debate at the beginning.”

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5 Responses to IMF supports Government spending cuts

  1. keynesianism says:

    Let's hope that the IMF is right and that everything does end up "Tickety Boo". Of course the Irish economy does not appear to be performing too well in the wake of austere fiscal measures with a collapse in tax revenues adding to and not reducing their deficit woes. The IMF are well known for their "short term pain for long term gain" approach to economics except that the long tern gain does not always seem to materialise and the porest often suffer massively: One reason why the institution is disliked intensely in many developing countries where they have "helped". Must say I am surpised you failed to blog about the Irish economy! LOL

  2. keynesianism says:

    "Despite the upbeat assessment of the UK economy and the government's plans to cut the deficit, the IMF warned that "downside risks are also sizeable".

    source IMF

  3. keynesianism says:

    These risks, it said, included continued fragile confidence, weakness in the housing market and a greater impact than expected from spending cuts.

    "Another extended contraction in output cannot be ruled out," it said.

    Source IMF

    • toryradio says:

      And as I suggested …. the IMF support what is being done. Of course we could not cut anything and spend even more. I think we would have to have a different conversation with the IMF then… something where a begging bowl may be required.

      BTW – I have an interview lined upwith Lord Lawson… think he knows a thing or two about economics. I'll ask him what he thinks.

  4. keynesianism says:

    Lord Lawson eh. Now there is a man I respect and a man who knows how to lose weight and keep it off. No government subsidy needed for him! He did arguably instigate some ill timed tax cuts and helped to add fuel to an unsustainable boom in the 80's however if my memory serves me correctly.

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