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.
The European Tax Adviser Federation (ETAF) has called for the European Commission to introduce more regional regulation of e-invoicing to promote security and better adoption. The strategy aims to boost
The Bahamas must “avoid stumbling into the pitfalls of the past” by upholding regulatory standards to maintain its perfect rating on anti-financial crime compliance, the Prime Minister says. Philip
A minimum tax on billionaires is likely to gain wider traction among the G20 group of the world’s largest economies as they get clarity on the proposal, French economist Gabriel Zucman of the independent
HMRC is running a series of external engagement events across May 2024 to hear views on the non-dom policy changes that were announced at Spring Budget 2024. Anyone who wants to attend any of the sessions