IMF recommends UK not to cut taxes
- Fund says higher taxes needed to cover spending and lower debt
- Chancellor expected to cut taxes in bid for pre-election boost
The UK government should not cut taxes in the budget because it needs the money to invest in public services and get the national debt under control, the International Monetary Fund said.
The intervention from the Washington-based institution comes just over a month before Prime Minister Rishi Sunak’s government unveils what could be the last major fiscal event before a national election likely to be held later this year.