The IMF cut the UK's growth forecast for next year and urged the government to tighten its belt rather than spend on cost of living support.

The IMF's World Economic Outlook report, released in Bangkok, cut the UK's 2027 growth forecast from 1.3 per cent to 1.2 per cent as Chancellor John Healey prepares a Budget amid energy bills set to rise above £2,000 in the New Year.