IMF predicts the UK's economy will shink the fastest of any developing country's

January 28, 2009 5:02 PM

This news, reported in the Times, is a complete indictment of the Keynesian stimulus Alistair Darling unveiled at the Pre-Budget Report.  It also highlights the huge costs of ruinous policy choices in the last decade - from high corporate taxes to regulations that make energy more expensive - that have hurt other industries and left Britain overly reliant on the, now contracting, financial services sector:



"The outlook was also dire for the United States and the eurozone, whose economies were seen contracting by 1.6 per cent and 2 per cent, respectively.


Hardest hit of all, however, would be Britain. The IMF revised its expectations for the contraction in the UK economy upwards from 1.3 per cent to 2.8 per cent."

This news, reported in the Times, is a complete indictment of the Keynesian stimulus Alistair Darling unveiled at the Pre-Budget Report.  It also highlights the huge costs of ruinous policy choices in the last decade - from high corporate taxes to regulations that make energy more expensive - that have hurt other industries and left Britain overly reliant on the, now contracting, financial services sector:



"The outlook was also dire for the United States and the eurozone, whose economies were seen contracting by 1.6 per cent and 2 per cent, respectively.


Hardest hit of all, however, would be Britain. The IMF revised its expectations for the contraction in the UK economy upwards from 1.3 per cent to 2.8 per cent."

Latest Blogs:

TaxPayers' Alliance Icon

It's not more money that the NHS needs...

1:22 PM 25, Jul 2017 Ben Ramanauskas

TaxPayers' Alliance Icon

Guildford Action Day

10:44 AM 24, Jul 2017 Shahmir Sanni

TaxPayers' Alliance Icon

BBC Pay Day Dismay

3:58 PM 19, Jul 2017 Katherine Harvey

TaxPayers' Alliance Icon

Flop Gun

4:19 PM 18, Jul 2017 Taylor Boyce

TaxPayers' Alliance Icon

Leicester Action Day

5:00 PM 17, Jul 2017 James Price