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 Greek government has announced an ambitious package of 18 tax cuts and 7 income support measures aimed at increasing disposable income and easing the financial burden on citizens in 2025.The initiatives,
The Central Bank of Kenya (CBK) has finalised a taxonomy and a climate risk disclosure framework as part of suite of green finance tools for the banking sector to promote more sustainable investments
HM Revenue & Customs (HMRC) has nearly doubled the amount paid out to people making tip offs about suspected tax evasion, according to data obtained by Price Bailey, the Top 30 firm of accountants.
Russian assets, frozen in the European Union after Moscow’s invasion of Ukraine, are likely to generate between 15 billion and 20 billion euros in after-tax profits until 2027, depending on the