Ed Balls MP, Labour’s Shadow Chancellor, responding to the IMF’s World Economic Outlook, said:
“After three wasted years of flatlining it’s good that we finally have some growth. But this is the slowest recovery for 100 years and working people are worse off as prices continue rising faster than wages.
“Despite these welcome changes to its forecasts the IMF rightly warns that the UK economy will remain below potential for many years. That’s why the IMF has repeated its view that the Government should bring forward infrastructure investment now, which could be used to build thousands of affordable homes.
“Instead of more complacency from George Osborne we need action to secure a strong and sustained recovery, catch up all the lost ground and tackle the cost of living crisis.”