The International Monitary Fund has endorsed the government's plans for clearing up the economic mess left by Labour in a move welcomed by Orpington MP Jo Johnson.

"This is a highly influential international body confirming that the government is right to put the public finances back in order," Jo Johnson, MP for Orpington, said. "Asked whether it was time for a change in plan, the IMF gave a clear answer: 'No'."

 In its review of the UK economy released on Monday, the IMF said that "strong fiscal consolidation remained essential to achieving a more stable budgetary position, thus reducing fiscal risks".

 According to the IMF, real GDP growth will remain a moderate 1½ per cent in 2011 before accelerating gradually to around 2½ percent over the medium term.

To read the IMF statement click here