Rachel Reeves is besieged on all sides and needs a dramatic intervention to save UK economy
When Rachel Reeves turns up at the International Monetary Fund (IMF) today she already knows that she needs a near miracle to turn things around.The dire predictions by the IMF itself ahead of the summit of finance ministers in Washington DC saw the UK set to have the highest inflation of advanced economies at 3.1 per cent while growth was slashed by 0.5 per cent to 1.1 per cent.For a woman whose mantra during and after the election was “growth! growth! growth!” the news could not be worse for the chancellor.And while the IMF’s revisions are a result of Donald Trump’s planned tariffs, the reality is that Ms Reeves was already struggling and under siege from competing demands from all sides.The chancellor now needs to land a number of apparently contradictory achievements to turn the UK economy around and save her political career and reputation.Chancellor of the Exchequer Rachel Reeves (James Manning/PA) More