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IMF suggests that the UK economy is weakest of the developed world

A recent IMF survey suggests that the UK economy is the weakest of the developed world and the UK recovery period will be long and hard. Like so many financial institutions of late, the IMF has centred upon the weak position of the public purse where debt has grown to £600 billion and is set to crash through the £1 trillion mark over the next three years. The Labour Party claims yesterday would indicate that the UK recession will be short lived and the bounce will be strong, although many believe this is wishful thinking on the part of the Treasury.

Time and time again surveys and articles about the UK economy look back over the last 10 years and the boom times during which Gordon Brown failed to save sufficient funds for the bad times. Despite constant denials there appears little doubt that no funds were put aside when the UK economy and the UK property market in particular were flying high.

As a consequence, the first sign of recovery in the UK economy will see taxes rise, public spending fall and an array of new and innovative income-producing policies from the government.

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