The Prime Minister has staked his reputation on fixing the economy but the latest set of forecasts makes clear that prospect is some way off
April 11, 2023 5:42 pm
When delivering his Budget last month, Jeremy Hunt boasted that the UK was on course to avoid recession. But the IMF’s forecast thatIt is a sharp corrective to: even without a technical recession, usually defined as two consecutive quarters of negative growth, there is no realistic prospect of significant growth this year.
When Mr Sunak promised to halve inflation this year, he was mocked for picking a target that appeared trivially easy, given the likelihood that price increases would slow down of their accord. Government insiders say the IMF’s warnings show that in fact nothing can be taken for granted – and insist they need to double down on their tight fiscal plans to bring inflation down to a reasonable level.
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