Local Liberal Democrats have called for an early general election after an intervention on the chancellor’s mini budget by the International Monetary Fund’s (IMF). 

The group has urged the government to “recall Parliament, undo the mini budget then call a general election” following the IMF’s statement that “large and untargeted fiscal packages” will likely “increase inequality” in a rare public warning to the UK government. 

The intervention prompted the sterling to slump to $1.06, a drop of about one per cent. 

The IMF is an agency that monitors the international monetary system and global economic developments to identify risks and recommend policies for growth and financial stability. 

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Wokingham’s MP John Redwood claims that the agency does “not want the UK to be more competitive” by lowering taxes and suggested that they should have intervened against global policies which “brought on the inflation which has so disrupted living standards”. 

“They turned up late to the fight against inflation and now are reinforcing a big global slowdown just as oil and commodity prices tumble,” he added. 

The local Lib Dems hit back by suggesting that, rather than “everyone being out to get you”, the Conservatives are “just not doing very well”. 

“[The IMF] knows it’s going to need to bail us out if you keep on the current course. Our debt repayment rates are through the roof. Every day you remain in power is costing us money. Recall Parliament and call a general election,” the group tweeted. 

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The government won’t be keen to face the electorate currently, with the latest YouGov poll indicating a Labour lead of 17 points – a nine-point increase on the previous survey and the highest Labour lead the pollster has ever recorded. 

The opposition have led every poll conducted since the turn of the year. 

Mr Redwood told Sky News that it “wasn’t a good poll” and he “look[s] forward to them improving”. 

“I would imagine a general election is a couple of years away so think a lot is going to happen before then. I will be supporting the government every time it does things that raise the prosperity and freedoms of the British people,” he added. 

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The Liberal Democrat parliamentary candidate for Wokingham, Clive Jones, slammed the government’s economic response as “incompetent” and reiterated the local party’s call for an early general election.  He said Mr Redwood’s seat is “absolutely” up for grabs in any upcoming election. 

“It’s in the parties top 20 list of targets nationally,” Cllr Jones added.