Fund, which has been in UK assessing economy, upgrades growth forecast this year to 1.2% from 1.1%
Rachel Reeves should loosen her fiscal rules to prevent the need for emergency spending cuts, the International Monetary Fund (IMF) has said in its annual review of the UK economy, as it upgraded its forecasts for UK growth this year.
Adding to the clamour from backbench Labour MPs incensed by the government’s welfare cuts, the Washington-based organisation said the chancellor should examine ways to avoid making short-term savings when there is a downturn in economic forecasts.