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Is the IMF set to run to the rescue of the UK?

Despite repeated denials by the UK government the spectre of help from the IMF looms large on the horizon as the UK economy continues to head downwards. The IMF is currently heavily involved with regards to a rescue package for the Turkish government although talks have been suspended for 10 days to allow a period of reflection. There is intense speculation that unless we see a significant turnaround in the UK, the economic situation could become so bad that the IMF will be asked to assist with additional finance.

If the assistance of the IMF is required to refloat the UK economy this would be a major black mark on the copybook of Gordon Brown both as PM and as Chancellor of the Exchequer. In the good times he continued to spend substantial sums of money on public services went with hindsight maybe some of these additional funds, created by a buoyant economy, should have been set aside for the bad times.

Gordon Brown's tenure as Chancellor of the Exchequer is coming under greater and greater scrutiny and there appear to be cracks in his once proud reputation. While initially the UK public had been more than willing to give him the benefit of the doubt and allow them to keep the reins of the UK economy during these difficult times there are signs of a sea-change amongst UK voters which could see Gordon Brown ejected at the next general election.

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