In blow to George Osborne, International Monetary Fund says Britain will still be in deficit in 2020
‘Who ever is elected on 7 May, his or her goverment will fail to balance the books before the end of the decade, according to the International Monetary Fund (IMF)
The organisation said “uncertainties” surrounding next month’s general election implied that austerity would be less severe than currently forecast.
In a blow to Tory plans to achieve an overall budget surplus by 2018-19, IMF forecasts showed the UK would still be running a deficit of around 0.3% of gross domestic product (GDP) by 2020 – or around £7bn under implied spending plans – instead of a surplus of the same amount.’
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