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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.
Heating oil is trading at 111p per litre as roughly 1.5 million UK households off the mains gas network face a costly winter, with the unregulated market passing global price swings straight on to rural customers.
US President Donald Trump says Vladimir Putin has agreed to ship 300,000 tonnes of diesel immediately, with more to follow, weeks after signing legislation authorising sanctions on importers of Russian oil and gas.
