Britain could be forced to go begging to the IMF for a multi-billion-pound bailout if Labour failed to get a grip on the economy and boost growth, Kemi Badenoch has warned.
The Tory leader said she was 'really worried' the UK was risking a repeat of 1976, when chancellor Denis Healey was humiliatingly forced to seek help to keep the UK going because of surging debt and a falling pound.
Current Chancellor Rachel Reeves last week attempted to play down claims she is facing a £50billion 'black hole' in the public finances ahead of her second Budget.
Ms Reeves also sought to dampen speculation she is poised to announce a fresh package of tax rises on British businesses and households.
But speaking to BBC Newsnight ahead of speech in the City today, Mrs Badenoch said: 'The fact that our borrowing costs went to a 27-year high just last week is yet another indicator.
