Dominique Strauss-Kahn, head of the International Monetary Fund (IMF), told
BBC Radio the outlook for the global economy was worsening, describing 2009 ‘as
really being a bad year’.
He painted a dismal picture, describing the level of Britain’s public debt as
‘disturbing’, but recommending it be increased to finance further fiscal
stimulus, The Times reports.
Strauss-Kahn said IMF, which last month reduced its forecast for global
economic growth in 2009 from 3% to 2.2%, might go even lower in its January
forecast because governments around the world had failed to inject enough money
in their economies.
He called for a global stimulus package equal to about 2% of the world’s
collective GDP, or $1.2tn, which means Britain would need almost £10bn more to
stabilise the economy.
Plans to tackle criminals defrauding London’s councils have taken a major step forward with the appointment of CIPFA to provide data analytics for the London Counter Fraud Hu
Government services will be decimated if proposed reforms to IR35 in the public sector go ahead, a study has warned
CIPFA and EY form partnership to produce fully compliant accounts for local authorities
Head of editorial Kevin Reed discusses this week's important accountancy news, including Brexit and audit market evolution