IMF tells U.K. to relax austerity and spend for growth

Harsh austerity is a drag on the U.K. economy, and the government should put more emphasis on growth, the International Monetary Fund says. The IMF recommends that the U.K. scale back spending cuts and stimulate economic expansion with infrastructure spending and tax reduction. "In a range of policy areas, the government should be more supportive of growth," said David Lipton, the IMF's deputy managing director.

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