No econ. Plan B in UK despite IMF call<\/p>\n
The British government says it will not switch to a Plan B for economy despite the calls from the International Monetary Fund (IMF) to rein in austerity to boost growth.\n<\/p>\n
IMF has warned Britain that the austerity should be curbed to avoid stifling growth unless economic figures show significant positive change.\n<\/p>\n
However, the government is insisting on its current austerity policy with a Prime Minister\u00e2\u201e\u00a2s spokesperson saying “we are on the right road, but we have to stick to it”.\n<\/p>\n
The fund had initially supported the government\u00e2\u201e\u00a2s package of massive spending cuts but its managing director Christine Lagarde warned that the cuts are taking too long to trigger growth and called for a change of approach.\n<\/p>\n
The British economy narrowly missed a triple-dip recession in the first quarter of 2013.\n<\/p>\n
The government says its \u00a350 billion austerity program will help decrease the \u00a31 trillion national debt by 2015 but economists are not that optimist about the claim.\n<\/p>\n
AMR\/HE<\/p>\n<\/div>\n