And it tells Labour: Don’t ditch austerity

LABOUR’S plan to ditch austerity measures came under fire last night after Britain was told to lower its ballooning national debt.

The International Monetary Fund said reducing the £1.8trillion debt was ‘critical’ to the future health of the country, and praised the ‘massive effort’ made under the Conservatives to repair public finances. But, in what was seen as a stark warning of the dangers of a Jeremy Corbyn government, it warned that now is not the time to turn on the spending taps.

Mr Corbyn has pledged to end austerity if Labour wins power, with vast swathes of the economy nationalised and government borrowing dramatically increased.