A Muted Response to the Imf's Gloom [Edition 2]

Summary


THE Prime Minister did not mention yesterday's dire IMF prediction for the UK economy when he announced new economic rescue measures today, but its forecast of a 2.8 per cent shrinkage in the economy this year -- the deepest recession for any major economy -- was the inescapable backdrop.

Mr Brown promised to lift restrictions on council house building, and release Pounds 100 million for local authorities to use in countering the recession -- modest measures, especially given the scale of the crisis in the construction industry.

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A Muted Response to the Imf's Gloom [Edition 2]

In addition, the Institute for Fiscal Studies suggested yesterday that government ...

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