<p><br /> Britain may need to be bailed out by the IMF if the General Election results in a hung Parliament, Ken Clarke and George Osborne have warned.<br /> </p><p><br /> Speaking at a press conference in Westminster, shadow business secretary, Mr Clarke, said that an inconclusive result would be followed by horse-trading and negotiations.<br /> </p><p><br /> His comments came with the Lib Dems still riding high in the polls in the wake of Nick Clegg's much-praised performance in last week's first prime ministerial debate.<br /> </p><p><br /> "If the British don't decide to put in a government with a working majority, and the markets think that we can't tackle our debt and deficit problems, then the IMF will have to do it for us" said Mr Clarke.<br /> </p><p><br /> Referring to the Lib-Lab pact of 1977, he added: "It was a farce, it was a fiasco, it didn't save us from disaster. And I would be very, very alarmed if any prospect of that occurred on this occasion."<br /> </p><p><br /> When asked whether he agreed with Mr Clarke's comments, Mr Osborne said: "It is a statement of fact that the last time - indeed the only time - the IMF came in was when the governing party did not have a workable majority in Parliament, which was in the late 1970s.<br /> </p>
