IMF upgrades UK growth as it cuts rest of the world

In what will be seen at the Treasury as a vindication of its decision to ignore the IMF's recent call for a Plan B, the Bretton Woods institution lifted its forecast for GDP growth this year from 0.7% to 0.9%. Its outlook for 2014 was held at 1.5%, the Daily Telegraph reports. The forecasts for Britain now stand head and shoulders above its major European peers, with Germany the closest at 0.3% growth this year and 1.3% next. The eurozone as a whole is expected to shrink 0.6% in 2013, compared with a forecast decline of 0.3% in April. Underlining the improving UK outlook, the respe...