Qualified advisers answering your
Financial Questions
call 0800 092 1245

IMF changes opinion on UK economy

The International Monetary Fund (IMF) has today issued a change in opinion with regards to the UK economy with a suggestion that recovery will happen sooner than previously expected. While the IMF is of the opinion that GDP (gross domestic product) will fall by a worse than expected 4.2% in 2009 (against a former estimate of 4.1%) the news in relation to the economy as a whole is much more upbeat.

The IMF believes the UK economy will grow by 0.2% in 2010 which is a significant improvement on the 0.4% reduction forecast in April this year. However, before we get too excited about the prospects for the UK economy there is no doubt that tax rates will rise, unemployment is rising, bankruptcies are on the up and ultimately it will take many years for the UK economy to work its way back to former highs. On a more positive note it looks as though the UK government could well move into general election mode next year on the back of better than expected and potentially encouraging data on the UK economy.

Quite why the IMF has changed its opinion so quickly and so sharply is unclear but recent data with regards to the UK economy appears to have shown an improvement. Maybe Alistair Darling and Gordon Brown were right after all?

Share this..

Related stories

Financial Guides

Financial Calculators

Our useful calculators can help you get your finances in order:

Latest News


Helpful new tax year facts that could affect you and your money

Blog | Seven helpful new 2016/2017 tax year facts that could affect you and your money. Our recent online blog shares a brief outline on how to stay up to date.

Read more

Useful Links

Popular Searches

Please Enter More Details

Enter More Details