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Highlights: IMF urges Britain to do more to boost growth

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(Globalpost/GlobalPost)

LONDON (Reuters) - The International Monetary Fund called on Britain's government on Wednesday to do more to speed up slow economic recovery, hinting that the country might be able to afford to borrow more to fund investment.

Following are the highlights of remarks made at a press conference by IMF First Deputy Managing Director David Lipton and UK Mission Chief Krishna Srinivasan.

LIPTON ON FISCAL SUPPORT

"We recognize that higher fiscal support for the economy is not a straightforward choice as the deficit is still high.

"The government's credible medium-term consolidation plan, coupled with the UK's strong institutions and long duration debt afford space to provide support (to the economy)."

LIPTON ON DISCRETIONARY MEASURES

"The discretionary measures that are planned for this year will likely impart a drag on the economy and it would be desirable to try to offset that drag by bringing forward some combination of ... infrastructure spending and undertaking some tax measures, ... to provide a lower effective tax rate on corporations and to incentivize equity finance."

(Reporting by the London bureau)

http://www.globalpost.com/dispatch/news/thomson-reuters/130522/highlights-imf-urges-britain-do-more-boost-growth