The UK economy is still a long way from “a strong and sustainable recovery”, the International Monetary Fund (IMF) has warned.
In its concluding statement on its mission to the UK, the IMF said austerity measures were acting as a drag on the economy.
The government could do more to offset the negative impact of austerity with infrastructure spending, it said.
George Osborne said the UK would not “duck its economic challenges”.
The IMF acknowledged that the UK’s austerity programme had earned the government international credibility.
But speaking at a press conference in London, its deputy managing director, David Lipton, said the view of the IMF was that the UK should consider slowing the pace of cuts.
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