New fears Brexit has ‘drained life out of UK economy’ following IMF report
8 months, 1 week 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 try again later {{ /verifyErrors }} Opponents of Brexit have warned that the latest figures from the International Monetary Fund confirm that leaving the EU “has drained the life out of the British economy”. Fortunately, none of this is irreversible, and it’s now time for realistic appraisals under a new government which recognises that we urgently need a new, grown-up relationship with the European Union.” The IMF report, entitled The Global Economy in a Sticky Spot, blames the aftermath of dealing with inflationary pressures and continued war in Ukraine and the Middle East for its gloomy prognosis. The report noted: “IMF staff projections are based on upward revisions to commodity prices, including a rise in nonfuel prices by 5 per cent in 2024. “Energy commodity prices are expected to fall by about 4.6 per cent in 2024, less than projected in the April WEO, reflecting elevated oil prices from deep cuts by OPEC+ and reduced, but still present, price pressure from the Middle East conflict.

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History of this topic

Will the Brexit headache ever end? Join our exclusive panel as we discuss five years of Britain outside the EU
2 months, 2 weeks ago

Will the Brexit headache ever end? Join our exclusive panel as we discuss five years of Britain outside the EU

The Independent  

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Starmer and Reeves must be clear about the sacrifices needed to achieve econmic growth
3 months, 1 week ago

Starmer and Reeves must be clear about the sacrifices needed to achieve econmic growth

The Independent  

No amount of political tinsel or rhetorical baubles can disguise the grim reality that the British economy is flatlining. Equally plainly, the downbeat mood struck by Labour ministers following the general election, with their talk of a crisis in the public finances, cannot have helped matters; and if the latest surveys are anything to go by, Ms Reeves’s Budget measures …

UK must rebuild EU relations post-Brexit, Bank of England chief warns
4 months, 2 weeks ago

UK must rebuild EU relations post-Brexit, Bank of England chief warns

The Independent  

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Worst of Britain’s Brexit pain is still to come, admits Treasury minister
4 months, 4 weeks ago

Worst of Britain’s Brexit pain is still to come, admits Treasury minister

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 a damning …

Catastrophic cost of Brexit on UK trade revealed in stark OBR warning
5 months ago

Catastrophic cost of Brexit on UK trade revealed in stark OBR warning

The Independent  

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The IMF says Britain is back on track for growth - but Reeves could wreck it with a gung-ho budget, says ALEX BRUMMER
5 months, 1 week 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 …

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

Dire Brexit EU trade figures could get even worse, warns expert
6 months, 2 weeks ago

Dire Brexit EU trade figures could get even worse, warns expert

The Independent  

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Starmer warned just ‘tinkering’ with EU Brexit deal will not save UK economy
7 months, 3 weeks ago

Starmer warned just ‘tinkering’ with EU Brexit deal will not save UK economy

The Independent  

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Britain to be fastest growing major European economy, IMF predicts
8 months, 2 weeks 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 …

Ahead Of The 2024 General Election, UK Voters Weigh Economic Concerns
8 months, 4 weeks ago

Ahead Of The 2024 General Election, UK Voters Weigh Economic Concerns

The Hindu  

Published : Jul 02, 2024 18:20 IST - 5 MINS READ Ahead of the UK general election, polls point to one, clear outcome: near wipe-out for the ruling Conservative Party. “Confidence is returning to the economy and the country.” The UK economy came out of recession in the first quarter of 2024, with a better-than-expected growth of 0.7 per cent. …

Economy set for ‘soft landing’ as IMF upgrades UK growth forecasts
10 months, 1 week ago

Economy set for ‘soft landing’ as IMF upgrades UK growth forecasts

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. Read our privacy policy The UK economy is set …

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
10 months, 1 week 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: Outlook for world economy is brighter, though still modest by historical standards
11 months, 2 weeks ago

IMF: Outlook for world economy is brighter, though still modest by historical standards

Associated Press  

WASHINGTON — The International Monetary Fund has upgraded its outlook for the global economy this year, saying the world appears headed for a “soft landing” — reining in inflation without much economic pain and producing steady if modest growth. In its latest outlook, the IMF, a 190-country lending organization, notes that the global expansion is being powered by unexpectedly strong …

The Brexit bill: £100bn hit to UK exports as toy, medical kit and jewellery sales slump
1 year, 1 month ago

The Brexit bill: £100bn hit to UK exports as toy, medical kit and jewellery sales slump

The Independent  

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The downbeat IMF economist who is persistently bleak on Britain
1 year, 2 months ago

The downbeat IMF economist who is persistently bleak on Britain

The Telegraph  

Pierre-Olivier Gourinchas, chief economist of the International Monetary Fund, has warned Jeremy Hunt not to implement tax cuts, saying Britain can ill-afford giveaways given creaking public finances. Two days after the Brexit vote in late June 2016 Gourinchas was among 24 leading economists to put their names to a column outlining what they saw as the many ills the decision …

Brexit will leave UK £300bn worse off by 2035, say economists
1 year, 2 months ago

Brexit will leave UK £300bn worse off by 2035, say economists

The Independent  

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Brexit has been bad for the UK economy, majority of Britons believe
1 year, 3 months ago

Brexit has been bad for the UK economy, majority of Britons believe

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. But today, with …

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 …

Britain no longer an economic outlier after ‘extraordinary’ GDP upgrade by ONS
1 year, 6 months ago

Britain no longer an economic outlier after ‘extraordinary’ GDP upgrade by ONS

The Independent  

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British economy will outperform Germany this year, IMF admits
1 year, 8 months ago

British economy will outperform Germany this year, IMF admits

The Telegraph  

Britain will outperform Germany this year, according to the International Monetary Fund, after its worst fears for the UK economy failed to materialize. The IMF expects the UK economy to grow by 0.4pc this year, it said on Tuesday, confirming predictions published in May as part of its annual economic healthcheck. The IMF said the Windsor Framework agreement announced by …

Brexit was ‘historic economic error’, says ex-US Treasury chief
1 year, 9 months ago

Brexit was ‘historic economic error’, says ex-US Treasury chief

The Independent  

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UK economy to avoid recession but inflation still a worry, IMF says
1 year, 10 months ago

UK economy to avoid recession but inflation still a worry, IMF says

Associated Press  

LONDON — The British economy will avoid falling into recession this year, according to upgraded growth forecasts Tuesday from the International Monetary Fund. IMF Managing Director Kristalina Georgieva said at a press briefing in London that the latest assessment reflects “favorably” on the U.K. in comparison to other countries in the Group of Seven leading industrial nations. Despite the more …

UK economy is no longer to fall into a recession in 2023, says IMF
1 year, 10 months ago

UK economy is no longer to fall into a recession in 2023, says IMF

Firstpost  

Britain’s economy is no longer will fall into a recession this year, the International Monetary Fund said on Monday, adding that it upgraded forecasts published last month and warned that the outlook remains subdued. “The improved outlook reflected the unexpected resilience of demand, helped in part by faster than usual pay growth, higher government spending and improved business confidence,” it …

IMF no longer expects UK recession this year
1 year, 10 months ago

IMF no longer expects UK recession this year

CNN  

London CNN — The United Kingdom will not, after all, be the worst-performing rich economy this year, the International Monetary Fund said Tuesday, announcing a major revision to its previous gloomy forecast. The forecast reflected “higher-than-expected” resilience in demand helped by strong wage growth, improved confidence and falling energy prices, the IMF added. While previously the IMF saw UK GDP …

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 …

British economy will take a smaller hit in 2023 than previously anticipated, says IMF
1 year, 11 months ago

British economy will take a smaller hit in 2023 than previously anticipated, says IMF

Firstpost  

Britain is no longer the only Group of Seven economy set for a fall in GDP this year as Germany too is now expected to shrink by 0.1%, the IMF global forecasts indicated. After narrowly avoiding recession in 2022, Britain’s economy has shown some signs of resilience in early 2023 London: Britain is expected to take a smaller economic hit …

Britain to remain world’s worst-performing large economy in 2023
1 year, 11 months ago

Britain to remain world’s worst-performing large economy in 2023

The Telegraph  

Britain will still be the worst-performing large economy in the world this year, even after a significant upgrade in its forecasts, according to the International Monetary Fund. It means that the UK will remain the world’s worst-performing large economy: in Russia, which has been targeted by wide-ranging sanctions from Europe and the US in the wake of the Ukraine war, …

Brexit damage to economy as big as Covid, says OBR
2 years ago

Brexit damage to economy as big as Covid, says OBR

The Independent  

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Two-thirds of public say Brexit has hurt UK economy, poll finds
2 years, 1 month ago

Two-thirds of public say Brexit has hurt UK economy, poll finds

The Independent  

Almost two in three Britons believe Brexit has damaged the UK economy, a new poll for The Independent has found. Some 61 per cent of voters say quitting the EU has made Britain’s economy worse, according to the Savanta survey – with only 13 per cent saying it has improved the economic situation. Some 44 per cent of voters said …

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 …

Should I be worried by the IMF’s grim forecasts for the UK economy?
2 years, 2 months ago

Should I be worried by the IMF’s grim forecasts for the UK economy?

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 IMF also …

UK economy to fare worse than any other country in developed world in 2023: IMF
2 years, 2 months ago

UK economy to fare worse than any other country in developed world in 2023: IMF

Hindustan Times  

The International Monetary Fund said that UK's economy would fare worse than any other country in the developed world - including Russia, in the latest update of its economic forecasts. UK economy would face a downgrade “reflecting tighter fiscal and monetary policies and financial conditions and still-high energy retail prices weighing on household budgets”, IMF noted. “On the downside, severe …

‘Turning point’: IMF raises 2023 world growth forecast to 2.9%, 1st in a year
2 years, 2 months ago

‘Turning point’: IMF raises 2023 world growth forecast to 2.9%, 1st in a year

Hindustan Times  

Global growth is set to be higher than expected this year, the IMF said Monday, raising its forecast on surprisingly strong consumption and investment while China's lifting of zero-Covid restrictions provides another boost. The International Monetary Fund expects the world economy to expand 2.9 percent this year, slowing from 2022 to a rate that remains weak by historical standards, said …

UK economy to suffer more than sanctions-hit Russia in 2023, warns IMF
2 years, 2 months ago

UK economy to suffer more than sanctions-hit Russia in 2023, warns IMF

The Telegraph  

The UK is on course to be the only major economy to shrink this year owing to Jeremy Hunt's tax raid and higher borrowing costs, according to the International Monetary Fund. It leaves the UK economy languishing behind Germany and even sanctions-hit Russia, with both countries expected to eke out modest growth this year. On Wednesday, Britain faces the biggest …

Brexit poll: Two years on, two-thirds of Britons support a future referendum on rejoining the EU
2 years, 2 months ago

Brexit poll: Two years on, two-thirds of Britons support a future referendum on rejoining the EU

The Independent  

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‘Worse than feared’: Brexit to blame for £33bn loss to UK economy, study shows
2 years, 3 months ago

‘Worse than feared’: Brexit to blame for £33bn loss to UK economy, study shows

The Independent  

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Brexit’s stark impact on UK food prices confirmed
2 years, 4 months ago

Brexit’s stark impact on UK food prices confirmed

The Independent  

Brexit has added 6 per cent to UK food prices, a Bank of England official has said as inflation hit a 41-year high. Dr Swati Dhingra also said British workers had taken a 2 per cent real terms cut in their wages due to the UK’s departure from the EU, as members of the bank’s Monetary Policy Committee appeared before …

UK economy shrinks as lengthy recession looms
2 years, 4 months ago

UK economy shrinks as lengthy recession looms

Al Jazeera  

New data provides a sobering backdrop for a budget unveiling that seeks to convince investors that the UK can fix its finances. The United Kingdom’s economy shrank in the three months to September at the start of what is likely to be a lengthy recession, underscoring the challenge for finance minister Jeremy Hunt as he prepares to raise taxes and …

UK economy to enter recession until summer 2023, financial experts warn
2 years, 5 months ago

UK economy to enter recession until summer 2023, financial experts warn

The Independent  

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Britain ‘step closer to recession’ after economy shrank in August
2 years, 5 months ago

Britain ‘step closer to recession’ after economy shrank in August

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. Read our privacy policy Britain’s economy unexpectedly shrank in …

IMF criticizes huge UK tax cuts and urges a rethink
2 years, 6 months ago

IMF criticizes huge UK tax cuts and urges a rethink

CNN  

London CNN Business — One of the world’s leading multilateral financial institutions has joined a chorus of criticism of huge tax cuts announced by the UK government last week that sent the pound plunging to a record low. “We understand that the sizable fiscal package announced aims at helping families and businesses deal with the energy shock and at boosting …

UK stocks, sterling slip as BoE intervenes after IMF slams budget
2 years, 6 months ago

UK stocks, sterling slip as BoE intervenes after IMF slams budget

Al Jazeera  

The pound slumps and stocks pare losses after the Bank of England says it is buying up long-dated UK government bonds. IMF’s criticism In a highly unusual intervention, the IMF late Tuesday said it was “closely monitoring” developments and urged the government in London, led by new Prime Minister Liz Truss, to change tack. The Fund added: “We understand that …

IMF warns UK its budget cuts will ‘likely increase inequality’
2 years, 6 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 …

Outlook for economy has ‘deteriorated markedly’ due to soaring prices, Bank of England warns
2 years, 8 months ago

Outlook for economy has ‘deteriorated markedly’ due to soaring prices, Bank of England warns

The Independent  

Britain's economic outlook has "deteriorated materially” thanks to soaring prices stoked by Russia's invasion of Ukraine, the Bank of England has said. UK lenders will be ordered to hold an extra £22bn of capital as a buffer against economic shocks from July next year, the Bank said on Wednesday. “The economic outlook for the UK and globally has deteriorated materially,” …

Six Brexit problems six years after the EU referendum
2 years, 9 months ago

Six Brexit problems six years after the EU referendum

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. 1) Food rotting …

Relaunch targeted furlough if Omicron impacts economy, says IMF
3 years, 3 months ago

Relaunch targeted furlough if Omicron impacts economy, says IMF

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. The IMF cautioned over the “major risk” facing the UK economy from new waves …

Brexit’s impact on economy worse than pandemic – OBR
3 years, 5 months ago

Brexit’s impact on economy worse than pandemic – OBR

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. Richard Hughes said …

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