Rachel Reeves should refine fiscal rules to avoid emergency spending cuts, IMF says

The organisation, which has been assessing the UK economy, upgrades its growth forecast this year to 1.2%

Rachel Reeves should refine her fiscal rules to prevent the need for emergency spending cuts, the International Monetary Fund has suggested in its annual review of the UK economy, as it upgraded its forecasts for UK growth this year.

Adding to the clamour from backbench Labour MPs incensed by the government's proposed welfare cuts, the Washington-based organisation said the chancellor should examine ways to avoid having to make short-term savings when there is a downturn in economic forecasts.