Rachel Reeves has hit out at US president Donald Trump’s “folly” of going to war with Iran without an exit plan, as Britain’s economic growth forecast was slashed as a result of the conflict.

The Chancellor said she was “very frustrated and angry” with America’s actions in the Middle East, as the International Monetary Fund (IMF) said on Tuesday that a global recession could be a “close call” in a severe scenario linked to the conflict.

In its first set of forecasts since the global economy was rocked by the conflict between US-Israeli and Iranian forces, the influential economic body said the war would result in weaker than previously expected UK economic growth.

IMF Growth Forecast 2026: 🇺🇸 US: 2.3% 🇩🇪 Germany: 0.8% 🇫🇷 France: 0.9% 🇮🇹 Italy: 0.5% 🇪🇸 Spain: 2.1% 🇬🇧 UK: 0.8% 🇯🇵 Japan:0.7% 🇨🇦 Canada: 1.5% 🇨🇳 China: 4.4% 🇮🇳 India: 6.5% 🇷🇺 Russia: 1.1% 🇧🇷 Brazil: 1.9% 🇲🇽 Mexico: 1.6% 🇸🇦 Saudi Arabia: 3.1% 🇳🇬 Nigeria: 4.1% 🇿🇦… pic.twitter.com/hs7T3ebF1v

Speaking to the Mirror ahead of travelling to the IMF spring meetings in Washington DC, Ms Reeves said: “This is a war that we did not start.

“I feel very frustrated and angry that the US went into this war without a clear exit plan, without a clear idea of what they were trying to achieve.”

At the Washington DC gathering, Ms Reeves is expected to urge co-ordinated action to tackle the global economic shock caused by the war.

The Chancellor also said: “Obviously no sensible person is a supporter of the Iranian regime, but to start a conflict without being clear what the objectives are and not being clear about how you are going to get out of it, I do think that is a folly and it is one that is affecting families here in the UK, but also families in the US and around the world.”

Prime Minister Sir Keir Starmer will co-host a meeting of world leaders in Paris on Friday alongside French president Emmanuel Macron.

There, the leaders will aim to come up with a plan to ensure the Strait of Hormuz can remain open to shipping after the Middle East war ends.