THE IMF’S extraordinary intervention following the Chancellor’s sweeping tax cuts is “concerning” and shows the “unmitigated disaster” created by the Tory government, opposition politicians have said.
The International Monetary Fund (IMF) rebuked the UK Government in the days following Kwasi Kwarteng’s mini-budget, which saw the pound fall to a record low against the dollar and banks hike interest rates.
The fiscal statement saw taxes cut for the highest earners, the cap on banker’s bonuses lifted and a cancellation of the planned rise in corporation tax.
