Budget 2024 latest: Huge boost for Reeves as IMF growth forecast rises after inflation battle ‘largely won’

Rachel Reeves will announce Labour’s first Budget on 30 October, following an upgrade in the UK’s economic forecasts by the IMF, which praised the country’s success in combating inflation. The GDP is now expected to grow by 1.1% in 2024, up from the previous forecast of 0.7%. Despite government borrowing rising to £16.6 billion last month, Ms Reeves remains focused on addressing key issues such as protecting working people, improving the NHS, and rebuilding Britain in the upcoming Budget.

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