BRITAIN’S growth forecast was sharply downgraded yesterday by the International Monetary Fund (IMF) following the Brexit vote.
The IMF cut its growth forecast for this year by 0.2 percentage points to 1.7 per cent and dramatically slashed the 2017 forecast by 0.9 percentage points to 1.3 per cent as the effect of the referendum vote to leave the European Union is felt.
Shadow chancellor John McDonnell said: “The most urgent priority for the government ought to be a programme of investment to help guard against economic turbulence and ensure working people across the country do not end up paying the price for Tory ineptitude.
“Instead, the Chancellor refuses to clarify whether he is sticking with George Osborne’s discredited approach, involving cuts to government investment for each of the next three years.”
A legal challenge to Brexit is to be heard by the High Court over three days in October, judges announced yesterday.