The IMF says Britain is back on track for growth - but Reeves could wreck it with a gung-ho budget, says ALEX BRUMMER
4 months, 3 weeks ago

The IMF says Britain is back on track for growth - but Reeves could wreck it with a gung-ho budget, says ALEX BRUMMER

Daily Mail  

Growth in Britain looks well set, with the International Monetary Fund once again upgrading forecasts. Budget threat: If Chancellor Rachel Reeves goes too far, raising taxes and scaring business and wealth creators witless, then she would place a fragile cyclical upturn in peril That erupted during the IMF’s annual meetings of two years ago following Liz Truss’s unaudited tax cutting budget. The IMF’s global financial stability report warns that high levels of leverage, particularly among untrammelled non-bank players in finance, are among the biggest risks. If she goes too far, raising taxes and scaring business and wealth creators witless, then she would place a fragile cyclical upturn in peril. On the other side of the world, HSBC’s newish chief executive Georges Elhedery has moved rapidly to stamp his authority on the bank by separating core Hong Kong, Chinese and Asia operations – where the bulk of profits are earned – from the UK and other commercial banking operations.

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History of this topic

UK economy unexpectedly shrinks in January, in blow to Treasury chief ahead of key statement
6 days, 8 hours ago

UK economy unexpectedly shrinks in January, in blow to Treasury chief ahead of key statement

Associated Press  

LONDON — The British economy unexpectedly shrank during January, piling pressure on Treasury chief Rachel Reeves before a key statement about the state of the public finances later this month. Though monthly figures are notoriously volatile and prone to future revision, the decline puts in sharp relief the struggles the Labour government, elected last July after 14 years in opposition, …

Reeves's big plan for growth is totally doomed... and it's all the fault of her terrible Budget which has crippled Britain's economy: ANDREW NEIL
1 month, 2 weeks ago

Reeves's big plan for growth is totally doomed... and it's all the fault of her terrible Budget which has crippled Britain's economy: ANDREW NEIL

Daily Mail  

Rachel Reeves now wears a near-permanent rictus grin. She harbours a growing worry, as every week brings more bad news for the British economy, that her disastrous October Budget has set the country on a downward spiral which windy talk about ‘an unrelenting focus on growth’ and ‘hard-wiring growth into every Cabinet decision’ cannot reverse. Starmer has even talked multiple …

Chancellor's shoddy retread: Reeves must stop the doom-mongering and back UK tech, says ALEX BRUMMER
1 month, 2 weeks ago

Chancellor's shoddy retread: Reeves must stop the doom-mongering and back UK tech, says ALEX BRUMMER

Daily Mail  

There are alternative ways of looking at politicians who rapidly change the script. As laudable as this change of heart may be – getting behind Britain’s cutting-edge AI, bio-sciences, finance and creative sectors is critical – the horse already has bolted. Turnaround: Chancellor Rachel Reeves has embarked on an ambitious reversal with her emphasis on growth The £40billion tax-raising Budget …

Now Reeves faces a £20billion black hole in the public finances as economy slumps behind ­America - as low-tax and low-regulation Donald Trump returns to the White House
2 months ago

Now Reeves faces a £20billion black hole in the public finances as economy slumps behind ­America - as low-tax and low-regulation Donald Trump returns to the White House

Daily Mail  

Rachel Reeves faces a £20billion black hole in the public finances as Britain’s economy lags behind America’s, experts warned last night. That is well behind the 2.7 per cent and 2.1 per cent growth expected in the US as low-tax and low-regulation Donald Trump returns to the White House next week – leaving Labour’s pledge to make the UK the …

UK set to be the fastest growing European economy as IMF forecast gives boost to Reeves
2 months ago

UK set to be the fastest growing European economy as IMF forecast gives boost to Reeves

The Independent  

Sign up for the View from Westminster email for expert analysis straight to your inbox Get our free View from Westminster email Get our free View from Westminster email SIGN UP I would like to be emailed about offers, events and updates from The Independent. open image in gallery The chancellor has been under pressure over the struggling economy “The …

PM demands ‘concrete proposals’ on growth from regulators
2 months, 2 weeks ago

PM demands ‘concrete proposals’ on growth from regulators

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. In letters sent last week, Sir Keir Starmer, Chancellor …

British economy heading for ‘worst of all worlds’, business leaders warn over Labour Budget
2 months, 3 weeks ago

British economy heading for ‘worst of all worlds’, business leaders warn over Labour Budget

The Independent  

Sign up for the View from Westminster email for expert analysis straight to your inbox Get our free View from Westminster email Get our free View from Westminster email SIGN UP I would like to be emailed about offers, events and updates from The Independent. “As we head into 2025, firms are looking to the government to boost confidence and …

How long will the shadow of Reeves’ Budget hang over Britain’s gloomy economy?
2 months, 3 weeks ago

How long will the shadow of Reeves’ Budget hang over Britain’s gloomy economy?

The Independent  

Fun fact: the OECD still predicts that Britain’s economy will be one of the stars of the G7 during 2025 with growth of 1.7 per cent, lagging only behind the US at 2.4 per cent. Labour’s tax-raising budget, and particularly the decision to raise £24bn by hiking employer national insurance contributions looms large over UK plc. The Bank of England’s …

It’s time Britain got real – the only way is Europe
4 months ago

It’s time Britain got real – the only way is Europe

The Independent  

The chancellor’s response to the latest miserable economic growth figures was peevish to the point of bizarre. Sounding like a mum who’s been told her children have just flunked their mock exams, this trained economist declared: “I am not satisfied with these numbers.” If a chancellor’s mere disfavour was sufficient to boost growth, then all our problems would soon be …

Britain's growth calamity: The Government's prioritisation of the public sector over all else is bonkers, says ALEX BRUMMER
4 months, 2 weeks ago

Britain's growth calamity: The Government's prioritisation of the public sector over all else is bonkers, says ALEX BRUMMER

Daily Mail  

There has been so much discussion about fiscal policy, new rules and taxing until the pips squeak ahead of today’s Budget that the core purpose of backing growth is lost in the undergrowth. Construction drive: Chancellor Rachel Reeves and colleagues see building more houses and better infrastructure as keys to economic expansion The US, for all its economic dynamism, has …

Britain facing biggest tax rise in G7 even before Reeves’s Budget
4 months, 3 weeks ago

Britain facing biggest tax rise in G7 even before Reeves’s Budget

The Telegraph  

The IMF warned that UK debt was on course to keep climbing until the end of the decade, putting it on an unsustainable path. Its chief economist warned this week that rising debt could leave the UK at the “mercy of market pressures” in the absence of a plan to drive it down. The IMF’s latest projections show “general government …

Rachel Reeves is accused of holding back the economy after Britain eked out growth of just 0.2 per cent in August
5 months, 1 week ago

Rachel Reeves is accused of holding back the economy after Britain eked out growth of just 0.2 per cent in August

Daily Mail  

Rachel Reeves was yesterday accused of holding back the economy after Britain eked out growth of just 0.2 per cent in August amid the Chancellor’s relentlessly ‘negative’ rhetoric. Rachel Reeves put a positive tone on the news on Friday, pointing to a major investment summit being held next week Official figures showed GDP expanding 0.2 per cent at the end …

Britain's booming... but Labour's gloom and doom hits High Street: Government urged to stop talking the country down
5 months, 3 weeks ago

Britain's booming... but Labour's gloom and doom hits High Street: Government urged to stop talking the country down

Daily Mail  

Labour has been urged to stop talking the country down after it was handed the biggest growth upgrade in the G7 but was warned that its doom-mongering was deterring ­consumer spending. The Organisation for ­Economic Cooperation and Development said Britain's gross domestic product will grow by 1.1 per cent this year, up from a previously forecast 0.4 per cent. But …

New fears Brexit has ‘drained life out of UK economy’ following IMF report
7 months, 3 weeks ago

New fears Brexit has ‘drained life out of UK economy’ following IMF report

The Independent  

Sign up to our free Brexit and beyond email for the latest headlines on what Brexit is meaning for the UK Sign up to our Brexit email for the latest insight Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Please …

Britain to be fastest growing major European economy, IMF predicts
8 months ago

Britain to be fastest growing major European economy, IMF predicts

The Telegraph  

Thanks for joining me. 5 things to start your day 1) National Grid: Britain will remain dependent on gas for years | Forecasts predict higher than expected demand, in blow to net zero ambitions 2) We’re not a c----- employer, insists Wetherspoon boss after attack by union chief | Rebuttal comes as chain is accused of being ‘anti-union’ and offering …

IMF upgrades UK growth forecasts and warns Bank of England over 'delays' to interest rate cuts - as Jeremy Hunt swipes at 'unjustified pessimism' about economy
9 months, 3 weeks ago

IMF upgrades UK growth forecasts and warns Bank of England over 'delays' to interest rate cuts - as Jeremy Hunt swipes at 'unjustified pessimism' about economy

Daily Mail  

The IMF upgraded forecasts for the UK economy today as Jeremy Hunt swiped at 'unjustified pessimism'. The international body said Britain is on track for a 'soft landing', with GDP predicted to rise 0.7 per cent this year as inflation eases. Jeremy Hunt met the managing director of the IMF, Kristalina Georgieva, at Downing Street today Official figures for the …

IMF mocked for succession of failed forecasts as it downgrades UK's growth for next year to lowest in G7
1 year, 5 months ago

IMF mocked for succession of failed forecasts as it downgrades UK's growth for next year to lowest in G7

Daily Mail  

The IMF was derided today as it dramatically overhauled forecasts yet again - this time claiming that the UK will have the lowest growth in the G7 next year. The international body marginally improved its expectations for Britain this year to 0.5 per cent growth, after GDP performed better than it had thought. As recently as April the IMF was …

Why Britain will beat IMF’s bleak forecasts – but still faces a low-growth trap
1 year, 5 months ago

Why Britain will beat IMF’s bleak forecasts – but still faces a low-growth trap

The Telegraph  

The accuracy of the International Monetary Fund’s forecasts has come under greater scrutiny than ever after it published gloomy predictions that analysts warned were already out of date. The Fund claimed Britain’s economy will be the worst performing in the G7 next year, posing a potential headache for Rishi Sunak as he fights the next general election. The latest predictions …

UK to be worst-performing economy in G7 this year, IMF warns
1 year, 11 months ago

UK to be worst-performing economy in G7 this year, IMF warns

The Independent  

Britain is on course for the worst economic performance of any country in the G7, the International Monetary Fund has predicted, as it warned of more turmoil in a “fragile” global financial system. “Notably, emerging market and developing economies are already powering ahead in many cases, with growth rates jumping from 2.8 per cent in 2022 to 4.5 per cent …

IMF chief warns of a gloomy growth scenario
1 year, 11 months ago

IMF chief warns of a gloomy growth scenario

Hindustan Times  

Delivering a gloomy warning ahead of the spring meetings of the International Monetary Fund and World Bank, \, IMF’s managing director, said on Thursday that global growth dropped by half in 2022 and it will hover around 3% for the next five years, the lowest medium-term growth forecast since 1990. International Monetary Fund Managing Director Kristalina Georgieva poses for a …

ALEX BRUMMER: Don't derail Britain's recovery with tax hikes
2 years ago

ALEX BRUMMER: Don't derail Britain's recovery with tax hikes

Daily Mail  

Almost all the deeply negative forecasts for the British economy made at the tail end of 2022 and early this year are proving wrong. Bouncing back: Far from falling into a recession, the latest surveys show Britain's economy is picking up speed and signs that prices are coming down Trade union leaders might think of settling disputes now, rather than …

UK economy to shrink more than Russia, predicts IMF
2 years, 1 month ago

UK economy to shrink more than Russia, predicts IMF

The Independent  

Britain’s economy will have the worst performance of all G7 economies even sinking below Russia. In its latest update, the International Monetary Fund downgraded its UK forecast once again, predicting a contraction of 0.6 per cent against the 0.3 per cent growth pencilled in last October. The proof will be in the pudding.” The IMF did nudge up its outlook …

IMF warns UK its budget cuts will ‘likely increase inequality’
2 years, 5 months ago

IMF warns UK its budget cuts will ‘likely increase inequality’

Al Jazeera  

The IMF urged UK to consider providing more targeted support to families and businesses instead of sizable tax cuts. The International Monetary Fund has taken aim at new British financial plans that have roiled markets, warning that “large and untargeted fiscal packages” would likely increase inequality in the United Kingdom and could undermine monetary policy. In its first comments on …

IMF says trimming global growth forecast due to rising risks
3 years, 5 months ago

IMF says trimming global growth forecast due to rising risks

Associated Press  

WASHINGTON — The head of the International Monetary Fund says the agency is trimming its forecast for global growth this year. IMF Managing Director Kristalina Georgieva on Tuesday cited rising risks from inflation, debt and a divergence in growth prospects between nations with access to coronavirus vaccines and those in need of shots. In remarks prepared for a university audience …

IMF cuts global economy growth forecast for 2021 and warns of ‘long, uneven’ recovery
4 years, 5 months ago

IMF cuts global economy growth forecast for 2021 and warns of ‘long, uneven’ recovery

CNN  

London CNN Business — A strong comeback in 2021 is needed to help the global economy heal from the coronavirus pandemic. Output in advanced economies, as well as emerging markets — with the exception of China — is projected to remain below 2019 levels next year, she said. Looking ahead, the IMF offered a bleak look at how the global …

Extend Brexit transition, says IMF
4 years, 11 months ago

Extend Brexit transition, says IMF

The Hindu  

Britain should ask for an extension to its post-Brexit transition period to ease uncertainty at a time when the world economy is being hammered by the COVID-19 pandemic, the head of the International Monetary Fund said. “My advice would be to seek ways in which this element of uncertainty is reduced in the interests of everybody, of the U.K., of …

UK economic growth depends on ‘orderly exit’ from EU, warns IMF
5 years, 2 months ago

UK economic growth depends on ‘orderly exit’ from EU, warns IMF

The Independent  

Sign up to our free Brexit and beyond email for the latest headlines on what Brexit is meaning for the UK Sign up to our Brexit email for the latest insight Sign up to our Brexit email for the latest insight SIGN UP I would like to be emailed about offers, events and updates from The Independent. The financial watchdog …

World economy will slump to weakest growth in decade due to Trump’s trade war and Brexit, IMF forecasts
5 years, 7 months ago

World economy will slump to weakest growth in decade due to Trump’s trade war and Brexit, IMF forecasts

The Independent  

Sign up to our free Brexit and beyond email for the latest headlines on what Brexit is meaning for the UK Sign up to our Brexit email for the latest insight Sign up to our Brexit email for the latest insight SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy …

IMF issues warning over no-deal Brexit and Trump’s trade war as it slashes global growth forecasts
6 years, 1 month ago

IMF issues warning over no-deal Brexit and Trump’s trade war as it slashes global growth forecasts

The Independent  

Sign up to our free Brexit and beyond email for the latest headlines on what Brexit is meaning for the UK Sign up to our Brexit email for the latest insight Sign up to our Brexit email for the latest insight SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy …

UK economic growth for 2019 downgraded by IMF amid Brexit uncertainty
7 years, 1 month ago

UK economic growth for 2019 downgraded by IMF amid Brexit uncertainty

The Independent  

Sign up to our free Brexit and beyond email for the latest headlines on what Brexit is meaning for the UK Sign up to our Brexit email for the latest insight Sign up to our Brexit email for the latest insight SIGN UP I would like to be emailed about offers, events and updates from The Independent. In its latest …

UK economic growth outlook slashed by IMF due to weak pound and spiking inflation
7 years, 5 months ago

UK economic growth outlook slashed by IMF due to weak pound and spiking inflation

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. In an interim forecast published in July it already …

Brexit: IMF downgrades UK's economic growth forecast following weaker-than-expected performance
7 years, 7 months ago

Brexit: IMF downgrades UK's economic growth forecast following weaker-than-expected performance

The Independent  

Sign up to our free Brexit and beyond email for the latest headlines on what Brexit is meaning for the UK Sign up to our Brexit email for the latest insight Sign up to our Brexit email for the latest insight SIGN UP I would like to be emailed about offers, events and updates from The Independent. In its widely …

Brexit turbulence and pound's 31-year low causes UK economy to fall behind France
8 years, 5 months ago

Brexit turbulence and pound's 31-year low causes UK economy to fall behind France

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. In the IMF's latest projections, UK growth is predicted …

IMF calls for quick end to Brexit uncertainty, says it is hurting global economy
8 years, 7 months ago

IMF calls for quick end to Brexit uncertainty, says it is hurting global economy

India TV News  

International Monetary Fund chief Christine Lagarde today said that the uncertainty over Britain's vote to leave the European Union is dampening global economic growth and the country must decide what next. Lagarde said that before the British vote, the IMF had been preparing to raise its global growth forecast by 0.1 percentage points due to improvement in Japan, China and …

Policymakers fret as storm clouds gather over world economy
8 years, 11 months ago

Policymakers fret as storm clouds gather over world economy

Firstpost  

WASHINGTON World financial leaders sounded a sour note on the global economy on Thursday, pointing to Britain’s possible exit from the European Union as a serious threat alongside China’s bumpy growth path and dissent over interest rates in the euro zone. Concern that British voters are edging closer to leaving the EU in a June 23 referendum has spooked finance …

IMF asks rich nations for support
10 years, 5 months ago

IMF asks rich nations for support

Live Mint  

Washington: The International Monetary Fund, showing heightened concern over a slowing world economy, said on Tuesday that cash-rich countries like Germany needed to step up large public investments to help keep the flagging global recovery on track. “This is a very unbalanced recovery.” Fund economists expect annual growth in the euro zone of just 0.8%, with inflation coming in at …

IMF, finance ministers seek to revive global growth
12 years, 5 months ago

IMF, finance ministers seek to revive global growth

The Hindu  

World finance ministers said on Saturday that global economic growth had slowed and called for more effective measures to restore confidence. “We need to act decisively to break negative feedback loops and restore the global economy to a path of strong, sustainable and balanced growth,” the IMF’s steering committee said. “We are in a better position today regarding policy footing …

Growth alone not enough for recovery: IMF
13 years, 11 months ago

Growth alone not enough for recovery: IMF

The Hindu  

The International Monetary Fund called on Saturday for greater action to be taken to shore up the global financial recovery, stressing that economic growth alone was not enough without by jobs. “We have to be extremely watchful, but we also need to develop the capabilities of the fund to address risk proactively, to anticipate possible scenarios that could turn out …

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