IMF slams Osbornomics – and calls for Osborne to reconsider cuts plan

Speaking at a press conference this afternoon, IMF Chief Economist Olivier Blanchard said of the UK, that:

“In the face of very weak private demand it is time to consider adjustment to the original fiscal plan.”

That may not sound much – but remember this is the IMF, who don’t, as a rule, make a habit of picking on G8 economies.

To get even this level of criticism is noteworthy…