The IMF slashes UK growth, again

We will hear the latest unemployment figures on Wednesday Photo:

This is another sharp cut from the IMF, only three months after the last one, and Labour seized on these figures today.

The IMF said, back in May, that if the economy in the UK got any worse than it was projected to, then the Government should consider easing back on austerity measures, on the programme of cuts.

The Government is resisting this and pointed today to the action it is taking alongside the bank of England, the cheaper loans and other big infrastructure projects.

The IMF was asked about the measures taken by the government today, and they said it was just too soon to say whether they would work or not, but they did say that the biggest threat to advanced economies, like the UK, is from the eurozone, so that matters deeply to us, and slower growth here matters very much indeed because it means the economy can't generate enough jobs.

We are expecting to hear on Wednesday that unemployment has risen, once again.