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.”