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The International Monetary Fund (IMF) has cut the UK’s growth forecast by a third to 1.1%, attributing the decline to tariffs imposed by US President Donald Trump, which are expected to significantly impact the British economy. This forecast adjustment comes as global growth is projected to drop by 0.5% due to the heightened uncertainty and increased tariffs, particularly affecting the UK more than other nations. Additionally, UK inflation is anticipated to rise to 3.1%, the highest among G7 countries, compounding challenges for Chancellor Rachel Reeves ahead of the government’s spending review.
