Britain has overtaken France to become the second biggest economy in Europe , figures showed yesterday . The UK clocked up growth of 2.8 per cent in 2014 – the strongest in the Group of Seven industrialised nations and seven times higher than France ’ s 0.4 per cent . According to an International Monetary Fund report , this was enough for Britain to leapfrog socialist France and become the second most powerful economy in Europe , behind Germany . The UK is expected to cement its position in the coming years as one of the fastest growing major economies in the West . The IMF is forecasting ‘ solid ’ growth of 2.7 per cent this year and 2.3 per cent in 2016 . Scroll down for video . The UK clocked up growth of 2.8 per cent in 2014 – the strongest in the Group of Seven industrialised nations . Despite a slight downgrade for 2016 – the IMF ’ s initial forecast was 2.4 per cent – this is still enough for Britain to leave other EU nations trailing in its wake . Output in France is forecast to expand by 1.2 per cent this year and 1.5 per cent next year , while Germany is set to grow by 1.6 per cent then 1.7 per cent . Within the G7 , only the US is expected to perform better than Britain . ‘ In the United Kingdom , lower oil prices and improved financial market conditions are expected to support continued steady growth , ’ the IMF said . The World Economic Outlook report , which was published yesterday , will be seen as a boost for the Conservatives ahead of next month ’ s General Election . The Fund also appeared to back Tory plans to return Britain to the black after years of borrowing and rising debt . It will come as another blow to Labour leader Ed Miliband who has pledged to bring traditionally Left-wing policies back to Britain – mirroring the actions of Francois Hollande in France . The French president swept to power in 2012 promising to take on the rich and big business , but the country ’ s economy has been in a rut ever since . Unemployment in France is 10.6 per cent compared to 5.7 per cent in Britain . George Osborne , left , said the recovery would be put at serious risk by a Labour government , as IMF chief economist Olivier Blanchard , right , warned that debt levels are 'very high ' in many European countries . George Osborne used last month ’ s Budget to boast that Yorkshire has created more jobs than the whole of France . The Chancellor yesterday said the recovery would be put at serious risk by a Labour government propped up by the Scottish National Party . ‘ These IMF growth forecasts for the UK are further proof our economic plan is working , ’ he said . ‘ So we must finish the job. ’ IMF chief economist Olivier Blanchard warned that debt levels are ‘ very high ’ in many European countries and said ‘ it would be desirable to decrease them ’ .
The UK has overtaken France after seeing growth of 2.8 per cent in 2014 . Britain has the second most powerful economy in Europe behind Germany . IMF is forecasting growth of 2.7 per cent this year and 2.3 per cent in 2016 . Within the G7 only the US is expected to perform better than Britain .