This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies. Find out more here.

UK facing £17.5bn bill to boost IMF firepower

  • Print
  • Comments (2)

UK taxpayers could be forced to contribute a further £17.5bn to the International Monetary Fund after it asked member countries for an extra £390bn to stabilise the global economy.

The International Monetary Fund says it needs to increase the size of its bailout fund from roughly £260bn to around £650bn, part of which will be used to bail out debt-stricken eurozone members.

Reports state chancellor George Osborne is ready to put the IMF’s request to MPs for approval.

At a summit in December, most European leaders agreed to increase the IMF’s resources, but the UK refused to commit to the agreement.

  • Print
  • Comments (2)

Daily Email Updates
If you enjoyed this article, sign up to receive the latest news and analysis from Money Marketing.

Money Marketing Awards 2015
Put your firm forward as the leading practitioner in your field. Adviser and Advertising categories are open to entries - Enter Now.

Readers' comments (2)

  • What if the UK, on the basis that we can't afford a further contribution of £17.5Bn and that the EuroZone is basically beyond salvation, no matter how much more money is thrown at the problem, simply says NO?

    Unsuitable or offensive? Report this comment

  • I'm with you Julian, but I fear that the answer to your question is probably that we all go to hell in a handcart.

    When I voted for us to join the Common Market, it was to facilitate trade amongst nations. It was not to have some Europrat tell us what street lights we must have, that we can't recycle cardboard in compostable rubbish (the inks only might be carcinogenic), that we must allow prisoners to vote, that insurers can't use sex to determine rates (nonsensically unless one is in a group scheme) etc. etc.

    The sooner we are out the better.

    Unsuitable or offensive? Report this comment

Have your sayEdit my profile/screen name

You must sign in to make a comment

Fund Data

Editor's Pick


How do you plan to vote at the general election?

Job of the week

Latest jobs

View all jobs

Most recent comments

View more comments