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Evening Standard

World

Rachael Davies

What is the IMF and what did it say about the Government’s fiscal plans?

International Monetary Fund Tax Cuts Kwasi Kwarteng United Kingdom Bank of England Inequality

In a uniquely bold statement, the International Monetary Fund (IMF) has openly criticised the UK Government for its planned tax cuts.

Unveiled in Chancellor Kwasi Kwarteng’s mini-budget last week, Liz Truss’s new government’s plans for £45 billion in tax cuts have already pulled in warnings from markets and economic critics, with fears that government borrowing could surge, along with interest rates.

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