The Tories have got IMF cover for their plan to borrow and spend

The Fund’s latest forecast accepts that financing public debt is easier when borrowing is cheap
•IMF warns there is ‘limited ammunition’ to fight recessionThe International Monetary Fund has been on quite a journey these past 10 years. From being a cheerleader for austerity, it is now telling countries that low interest and negligible inflationary pressure mean they can borrow and spend.Up to a point. Old habits die hard, and the advice doled out by the IMF’s researc