Chair comment on IMF refusal to appear before Committee

Following pressure from the Treasury Committee to issue an on the record comment about the UK’s November 2022 Autumn Statement, the International Monetary Fund (IMF) provided the following, which was issued in response to journalist queries in November 2022:

“We welcome the chancellor’s Autumn Statement. The announced fiscal plan navigates well the difficult tradeoff between fighting inflation and protecting household incomes in a recession primarily caused by the exogenous energy price shock. As highlighted by the Office for Budget Responsibility, the outlook for the UK economy is sobering: for 2023, output is expected to contract and inflation to remain elevated. The gradual phasing of the consolidation will soften the impact on growth and put the public debt-to-GDP on a downward path over the medium term. We welcome the government’s efforts to better protect the vulnerable and to prioritize education, health, and investment.”

Commenting on the IMF’s statement, Harriett Baldwin MP, Chair of the Treasury Committee, said:

“I’m concerned that the IMF is in an untenable position, offering commentary to journalists but not being prepared to follow up with appearances before elected politicians. I will continue to push for the top brass of the IMF to appear on the record before the Treasury Committee. Otherwise they should simply restrict their comments to the formal reporting programme and not give an interim running commentary to journalists.”

Further information

• Treasury Committee
• About Parliament: Select committees
• Visiting Parliament: Watch committees

Image: IMF