JUST IN: The IMF has downgraded the UK's growth forecast to 0.8%, the biggest drop among all G7 nations. Inflation is expected to rise, even above that of some developing countries such as Peru and Senegal. The IMF cites tax hikes, rising bills, and government mismanagement as key reasons. Meanwhile, unemployment is climbing, consumer spending has slowed, and Reeves plans £30 billion in new taxes. Investors are already getting worried and pulling out of UK bonds, warning of a deeper downturn ahead.(Jacob King)