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The International Monetary Fund's top economist has urged John Healey to "stay the course" on repairing the UK's public finances, after the fund lifted its growth forecast for Britain to 1.3% this year. The IMF cut its forecast for 2027 to 1.2%, warning that higher energy prices and long-term interest rates weigh on consumption and investment.
The International Monetary Fund has lifted its 2026 UK growth projection to 1.3% and says Britain stands out among major economies on borrowing, but it expects higher energy prices and elevated interest rates to slow the economy in 2027.
More people are missing credit card repayments as rising bills stretch household finances, and lenders have told the Bank of England they expect unpaid credit card debts to climb further this autumn. Free, impartial debt advice is available, but borrowers are warned to watch for fee-charging firms and pressure tactics.
