Does the UK need a 'Plan B'?

Economists shoot down IMF's growth forecasts for UK in anticipation of an increase in GDP.

Last week the International Monetary Fund (IMF) endorsed the coalition government’s controversial programme to dramatically cut the public deficit over the next four years, despite criticism of the policy amid slow economic growth. Just prior to the IMF report, a group of 50 economists wrote a letter to the Observer labelling Chancellor George Osborne’s “breakneck deficit reduction plan” as “self-defeating” and putting forward suggestions for a ‘Plan B’. The IMF report also caused concern, with the body less optimistic on the wellbeing of the economy compared to last autumn, when it s...