Britain’s government should refrain from making further tax cuts given the long-term strains on the country’s public finances, the chief economist of the International Monetary Fund (IMF) said on Tuesday.
Pierre-Olivier Gourinchas said Britain faced big spending demands to fund health and social care and the country’s transition to net zero while it also needed to keep debt contained.
“In that context, we would advise against further discretionary tax cuts,” Gourinchas told reporters in Johannesburg after the IMF published updated forecasts for the global economy.
reached $415.4 million.
British Prime Minister Rishi Sunak and his finance minister Jeremy Hunt have suggested they will cut taxes further, possibly as early as a March 6 budget statement. Sunak’s Conservative Party is trailing the opposition Labour Party in opinion polls with a national election expected to take place later this year.
In a world where the economy’s color is increasingly turning green, a recent seminar in Luxembourg has brought to light a burgeoning partnership that could redefine the global financial landscape.
The Financial Action Task Force has confirmed that it will overhaul how jurisdictions will be added to the organization’s grey-list. The announcement comes after Elisa de Anda Madrazo, the organization’s
Anti-smuggling departments of customs across China carried out a series of special campaigns targeting smuggling in 2024, investigating more than 5,700 cases, the Ministry of Public Security said. About
Press Release from Guernsey Finance, Monday 13 May, 2024. Guernsey Finance has opened an office in central London to facilitate the work it does promoting and connecting the island’s finance services