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The IMF's statement on the UK economy: in full

StevieJ
StevieJ Posts: 20,174 Forumite
Part of the Furniture 10,000 Posts Combo Breaker
in Debate House Prices & the Economy
Well here it is.
Britain does not need to change its current economic policies as recent weak growth and high inflation is likely to be temporary, but a new approach may be needed if these problems persist, the IMF has said. Here is their verdict in full.

http://uk.finance.yahoo.com/news/The-IMF-statement-UK-economy-tele-1433532051.html?x=0
'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher

Comments

  • StevieJ
    StevieJ Posts: 20,174 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    Inflation is likely to remain above 4pc for most of 2011, but then gradually return near the 2pc target as transitory factors dissipate

    Might be a good time to reinstate those NS&I inflation adjusted certs :)
    'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher
  • Graham_Devon
    Graham_Devon Posts: 58,560 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    Good old tories. ;)
  • Really2
    Really2 Posts: 12,397 Forumite
    10,000 Posts Combo Breaker
    It would have been funny if Gordon Brown was head of the IMF and he had to say that.
  • tartanterra
    tartanterra Posts: 819 Forumite
    StevieJ wrote: »
    Well here it is.



    http://uk.finance.yahoo.com/news/The-IMF-statement-UK-economy-tele-1433532051.html?x=0
    Altogether, it's not too bad, and as good as we can probably expect.

    I wonder how many posters on here will be disappointed, as this is not the apocalyptical report they had hoped for....
    Nothing is foolproof, as fools are so ingenious! :D
  • StevieJ
    StevieJ Posts: 20,174 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    I like this comment from a reader on Yahoo, I am not a IMF fan either.
    First the banks are accused of not supporting homeowners and small businesses, and then they are accused of hiding bad debt by offering more lenient terms. It is not often that I would wish to defend the banks, but debt for equity in HMV means a sound business gets an opportunity to revamp its business model rather than collapsing and taking the debt with it, re-mortgaging homes and businesses on to better terms means lower risk in the long term, rather than the short termism that has been rampant in the banking industry to date. Bravo, the IMF can get stuffed as far as I am concerned. A non-elected body making literally life and death decisions for the poorest people in the poorest nations is a joke, none of them have ever had to live through the kind of austerity measures the continually impose, not from 5* NY hotels at any rate. It is the IMF that is not fit for purpose.

    http://uk.finance.yahoo.com/news/IMF-warns-UK-banks-masking-tele-3678254995.html?x=0
    'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher
  • Generali
    Generali Posts: 36,411 Forumite
    10,000 Posts Combo Breaker
    The UK economy for the next couple of years:

    buggs_accident.png

    By borrowing to consume, Government and people brought forward spending from tomorrow to today. Well now tomorrow is today(!) and you're seeing the downside of that having experienced the nice boom.
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Generali wrote: »
    By borrowing to consume, Government and people brought forward spending from tomorrow to today. Well now tomorrow is today(!) and you're seeing the downside of that having experienced the nice boom.

    During the boom a low wage economy was born. As people no longer had to work hard to make money. Just borrow to accumalate. Little to no capital investment.
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