Last summer the IMF predicted economic growth of 2.3% this year. Since then the UK has experienced a double-dip recession and if the predictions by the IMF are to be believed, the economy is now not set to recover for at least another year.
TUC General Secretary Brendan Barber said: "For the IMF to slash its growth forecast for the UK by more than any other advanced economy is a damning indictment of the government's economic strategy.
"Continuing with the Chancellor's austerity plan is prolonging the depression and risks causing permanent damage to the UK economy, with businesses failing and over a million young people neither in work or training.
"The Government must change course and start investing now to boost demand, get people back to work, and get the UK economy motoring again."
