Head Of IMF Says She Was Wrong About George Osborne - Trashes Miliband's Ideas

9th June 2014

Christine Lagarde has asked whether she needs to grovel on her knees before George Osborne over the IMF’s incorrect warnings on the UK economy, as she warned against raising taxes.

“Do I have to go on my knees?” Ms Lagarde, the head of the International Monetary Fund said, when asked whether she has apologised to George Osborne over the fund’s low growth forecasts and calls to adopt a ‘Plan B’ of less austerity – calls the body now accept it got wrong.

In a blow to Ed Miliband, who has called for higher rates of personal taxation and new levies on banks, Ms Lagarde said tax rises are “not recommendable”.

The growth the UK is enjoying now has “resulted” from George Osborne’s policies, she said. The growth now appears to be “pretty sustainable” because it is being driven by private sector investment as well as households consuming more.

A year ago Oliver Blanchard, the IMF’s chief economist, warned Mr Osborne was “playing with fire” with austerity and downgraded Britain’s growth forecast to just 0.7 per cent for 2013.

Instead, it grew by 1.7 per cent, and is expected to hit 2.7 per cent this year.

“We got it wrong,” Ms Lagarde told the Andrew Marr Show. “We acknowledged it. Clearly the confidence building that has resulted from the economic policies adopted by the government has surprised many of us.”

“We said very clearly that we had underestimated growth for the U.K. and that our forecasts had been proven wrong by the reality of economic developments,” she said.

Pressed on whether she had apologised to Mr Osborne for the incorrect forecasts, she said: “Do I have to go on my knees?”

http://www.telegraph.co.uk/news/politics/10884632/Do-I-have-to-go-on-my-knees-grovelling-apology-from-IMF-head-for-incorrect-warnings-on-UK-economy.html

Notice the resounding silence fro the comrades Andy.

You can hear a pin drop. They wil leave it a few weeks then change their story and say they believed in Plan A all along and that we misunderstood them. Of course Milliband doesn't have that option he is on record time and time again getting it completely wrong on the economy.

His latest plans to tax farmland are regarded as he most damaging yet even Brown wouldn't go there.

Milidick and balls up are part of The problems, not the solutions.

Well, what else would the woman say, after all, she isn't renowned for her compassion and she spent the day being got at.

Has Madame Lagarde been any further North than the Watford Gap?

How is Osborne's one parliament deficit wipe out coming along guys? Anybody got the figures?

Judge me as a success or a failure of keeping our triple AAA credit rating ha said.

We have - it's gone.