Alistair Darling MP, Shadow Chancellor of the Exchequer responding to the IMF’s downgrading the UK’s growth forecast today said:
"This downgrade shows the huge risk the new Government is taking by deliberately choosing to take so much money out of the economy. At a time when growth in Europe is moribund it's increasingly clear that the Government is risking jobs and recovery.”
For 2010, only France and the UK's growth forecasts have been downgraded, while the forecasts for the US and advanced economies overall have been upgraded.