Reeves claims UK economy will ‘turn corner’ in 2026 with growth only behind US and Canada in G7
UK ‘to have fastest-growing G7 economy in Europe’ in boost for Reeves
- Chancellor Rachel Reeves says the UK economy will "turn a corner" in 2026, after the International Monetary Fund (IMF) projected growth to surpass several G7 nations.
- Reeves welcomed the IMF's upgraded forecasts, stating the UK is on track to be the fastest-growing European G7 economy this year and next.
- The IMF anticipates UK GDP growth of 1.3 per cent in 2026 and 1.5 per cent in 2027, trailing global growth projections of over 3 per cent.
- Concerns remain that potential new tariffs threatened by Donald Trump could plunge the UK into recession and negate economic growth.
- Shadow Chancellor Sir Mel Stride criticised the government's celebration of a minor uptick, arguing the economy is flatlining and the chancellor should recognise its dire state.