A Brown day for IMF

"I do not accept the IMF’s statement. I say this with respect to the staff of the IMF. They’ve been wrong before - we’ve achieved high levels of British growth. I believe they are wrong again." - GORDON BROWN

Now Mr Brown, what does this mean?
The proposed budget for the UK has a black hole according to the International Monetary Fund, the hole is calculated to £12 billion and the IMF states that Mr Brown will have to raise taxes or cut the spending proposed in this years budget. Mr Brown of course denies the need for a tax increase, wise after the Socialistdemocrats in Sweden announced a raise in taxes as a promise for next years election caused a landslide in electoral votes.

The managing director of IMF, Rodrigo de Rata was challenged by Mr Brown in a joint pressconference. de Rata claims that the British budget is spending more than they will get in taxes. Browns response to this was
"I will not accept its recommendations and we will go ahead with our public spending plans."

Isn't it lovely when goverments spend your money without making sure they have the money to spend? Mr Brown also conveniently disregards the fact that IMF is not alone in it's assessment of the British economy, HSBC, Barclays Capital, the Institute for Fiscal Studies and even Deutsche Bank claims the same thing as IMF, in order to keep the budget taxes must be raised or they will have to cut spending. But then again this is Mr Brown, he knows better than all these respected financial institutes.

So to sum up:
• Gordon Brown claims IMF figures on UK economy are incorrect
• IMF claims chancellor will have to cut spending or raise taxes by £12billion
• Brown also holds rotating chairmanship of the IMF

Ain't life grand? Let's hope for a more fiscal sanity after the election. That goes for you to Mr Nuder, the jobless growth in Sweden is not what we need (nor more jobs in the public sector to keep unemployment figures down artificially).

Sincerely
Mr Silence Dogood