IMF warns Brown not to increase spending

The International Monetary Fund's report on the health of the UK economy, published yesterday by the Treasury, warned the UK Chancellor, Gordon Brown, that private spending needs to slow down before the economy can accommodate an increase in public spending.

The IMF report also commented that tax cuts could be contemplated in line with tax reforms throughout the rest of Europe. It also mentioned that the pre-budget report would not necessarily cause higher interest rates, but could force the

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