“Our economy is on the right track” Rachel has said as major upgrades are made to the UK’s growth prospects.
It follows news the International Monetary Fund (IMF) has upgraded the UK’s economic growth forecast and substantially reduced the country’s inflation forecast, as the Government delivers on its priorities of halving inflation, growing the economy, and reducing debt.
The UK economy is set to grow this year and avoid recession after a 0.7% upgrade compared with last month’s forecast and inflation is set to fall to around 5% by the end of the year.
The IMF also confirmed the UK’s long-term growth prospects are stronger than Germany, France and Italy’s.
Rachel said:
“The gloomsters and those who regularly talk down our country have got it wrong once again.
“The IMF has made a major upgrade of the UK’s forecasted economic growth and they’ve confirmed our long-term growth prospects are now stronger than in Germany, France, and Italy.
“Our economy isn’t going to go into recession and inflation is falling. There is much more still to do, but the Government’s plan to grow the economy is clearly on the right track.”
