Rachel Reeves has hailed new growth forecasts that claim the UK will be the fastest-growing major European economy over the next two years.
The International Monetary Fund’s latest World Economic Outlook report, published on Friday, indicates that Britain’s gross domestic product (GDP) is on track to grow by 1.6 per cent in 2025, up on the 1.5 per cent it predicted last October. Combined with inflation easing slightly this week, the latest figures give the beleaguered chancellor some breathing space after weeks of pressure over Britain’s finances.
