Ed Balls MP, Labour’s Shadow Chancellor, responding to new growth forecasts in the IMF’s World Economic Outlook Update, said:
“It’s worrying that the IMF has downgraded its forecasts for the UK economy for last year and next year too. In contrast the IMF says the US will grow faster than us this year and next year and has seen its growth forecasts upgraded.
“This shows why the complacency of David Cameron and George Osborne is so misplaced. Claims that the economy is fixed will ring hollow to millions of working people who are on average £1600 a year worse off under this government.
“We need stronger and more balanced growth that delivers sustained rises in living standards for all, not just a few. That’s what Labour’s economic plan is all about.”