THE International Monetary Fund (IMF) has said the UK will be the fastest-growing major economy this year.

After accusing UK chancellor George Osborne of ‘playing with fire’ in his economic policy last year, the IMF has backtracked.

It should come as good news for Spain, with Britons being the biggest overseas buyers of Spanish property.

As the property market is slowly pulling itself out of a slump, British people will undoubtedly play a crucial role.

“We clearly underestimated the growth of the UK economy in our forecasts a year ago,” said Christine Lagarde, boss of the Washington-based firm. “The planned fiscal adjustment for this year is appropriate.”

Mr Osborne said that the UK economy is ‘firing on all cylinders’.

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