Rachel Reeves faces fresh humiliation over the economy after the International Monetary Fund downgraded Britain’s growth outlook. The IMF forecast growth of just 1.1% in 2025, 0.5% down from its previous outlook.
It is a fresh blow for the Chancellor and comes as Donald Trump’s tariff wars deliver a severe hit to the global economy. The outlook for 2026 has also been downgraded, from 1.5% to 1.4%.
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Weak growth presents Ms Reeves with a major headache as she tries to meet her fiscal targets without having to hike taxes or cut spending at her next Budget in the autumn.
The highly anticipa...
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