John McDonnell MP, Labour’s Shadow Chancellor, responding to the IMF downgrade of UK growth forecasts, said:

“Today’s report from the IMF is yet another blow for the Government and its continued austerity agenda that is holding our country back.

“It further reveals that this government has no real plan for Brexit and no real plan to deal with the problem of earnings not keeping up with prices, which is undermining growth and risking living standards.

"Only a Labour government will end austerity and provide the vital programme of investment to boost growth in our economy, underpinned by our Fiscal Credibility Rule, which our country desperately needs.