No that is simply not accurate Howard.
Marek and Howard - the IMF in fact say that there is currently no need for a Plan B. Quite specifically so.
They do say that if such a need arises then tax cuts are preferred to QE and they should stick to cutting spending. In fact in none of the scenarios that they set out in their report suggest any reversal of spending cuts. This is a real poke in the eye to the Labour deficit denyers.
Their forecasts are no more accurate than other independent bodies but their analysis is at least free of a party political bias.
Here is the full report if you like to read such dry economic analysis:
http://www.imf.org/external/np/ms/2011/060611.htm
I should point out that osborne has also recently received the backing of the OECD among others.
