IMF supports Osborne's austerity measures but urges further action

The International Monetary Fund (IMF) has renewed its calls on the UK government to do more to boost the economy, but chancellor George Osborne has received support for his austerity programme from member countries.

Days after raising its growth forecast for Britain from 0.6% to 0.9%, the IMF said recovery in the UK has remained slow, with expectations for continued slow growth for the foreseeable future. The IMF questioned parts of chancellor George Osborne's approach, and said more should be done to improve the skills base and bring forward infrastructure spending. However, Osborne was boosted by support from member countries of the IMF for his austerity push. "Most directors underscored the importance of keeping fiscal consolidation on track to preserve credibility," the IMF said in an exte...