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Conservatives attack Brown for ignoring IMF warnings

The Conservatives have attacked Gordon Brown for ignoring early warnings about the economy from the International Monetary Fund.

Alistair Darling has proposed the International Monetary Fund act as an early warning system for the global economy.

But Shadow Chancellor George Osborne says the plan, which was first outlined by Brown in January, is ridiculous as the IMF has issued early warnings for some time only Brown failed to act on them.

He says: “This rehashed announcement can’t conceal the fact that Alistair Darling has had no ideas of his own about how to tackle Britain’s mounting economic problems. Instead of being in charge of events, he is becoming a mere spectator.

“The IMF has already issued early warnings, indeed they have produced countless warnings about the British economy over the years. The failure lies not with the IMF but with Gordon Brown who ignored these warnings and whose economic incompetence has left Britain ill prepared for the slowdown.”


Friends urged to rethink takeover

JC Flowers is putting pressure on Friends Provident to reconsider its rejected 150p per share takeover bid, saying it has funding in place for a 3.5bn cash bid.

AIMA and MFA set for partnership

The Alternative Investment Association and the Managed Funds Association have announced plans to work together on key industry initiatives.The move would see the two leading hedge fund associations in the world participate on each others board, develop shared initiatives and work on educational seminars.AIMA chairman Christopher Fawcett says: “AIMA and MFA are seeking closer cooperation […]

Aifa praises new FSCS funding structure

The Association of Independent Financial Advisers says the new funding structure of the Financial Services Compensation Scheme will see its members paying less towards the levy.


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