John McDonnell MP, Labour’s Shadow Chancellor, responding to the IMF’s decision today to cut its forecast for UK economic growth, said:

“People whose jobs and livelihoods are at threat from the Government’s lack of a Brexit strategy will not be celebrating a growth forecast of just 1.8%, nor the IMF’s downwards revision for next year.

“The legacy of six lost years under George Osborne is weighing on the UK economy, with the possibility of thousands of job losses following a ‘Tory Hard Brexit’ adding to years of under-investment and stagnant wages.

“Only Labour has a plan to deliver the high-skill, high-wage, high-tech economy of the future, with our National Investment Bank and regional development banks supporting all parts of the country to ensure no one and no community is left behind.”