In its half-yearly fiscal monitor, the fund (IMF) said the reduction in national insurance contributions (NICs) announced by Jeremy Hunt in his budget last month may have already made cutting the UK's national debt more difficult.
There is speculation the chancellor might announce further tax cuts ahead of an autumn election but the fiscal monitor makes it clear this would be against the advice of IMF officials.
This story is from the April 18, 2024 edition of The Guardian.
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This story is from the April 18, 2024 edition of The Guardian.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
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