THE Scottish Tories have backed the UK Government’s tax cuts despite an extraordinary intervention from the International Monetary Fund (IMF) and the collapse of the value of the pound.
Chancellor Kwasi Kwarteng announced swingeing tax cuts for the wealthiest late last week, leading the IMF to urge the Tories to “reevaluate” their policy.
In a statement, the international body said that Kwarteng’s policies were unwise “given elevated inflation pressures” and warned they would “likely increase inequality”.
