Britain in trouble

The International Monetary Fund released a report on Wednesday stating that though recent economic data showed signs of improvement, the information did not suggest any major economic recovery any time soon. This is completely different compared to what the Governor of the Bank of England Meryvn A. King said last week. King said that there was a, "welcome change in the economic outlook," and that the recovery of the English economy was "in sight." George Osborne, chancellor of the exchequer said that the English economy would improve quicker if the government would slow its spending cuts and tax increases. The International Monetary Fund said that in their current economic situation, calling for additional public spending would be a good thing.