Commenting on Chancellor Rachel Reeves’ recent Autumn Budget, the International Monetary Fund (IMF) stated the tax increases announced will ‘boost growth sustainably’.
The IMF said it approves of the UK government’s plans to ‘boost growth through a needed increase in public investment, while addressing urgent pressures on public services’.
An IMF spokesperson said: ‘We support the envisaged reduction in the deficit over the medium term, including by sustainably raising revenue.’
The Chancellor recently conceded that her Budget measure to raise employer National Insurance contributions (NICs) will lead to employees being paid less. Paul Johnson, Director at the Institute for Fiscal Studies (IFS), commented that ‘if you are to lean on one of the big three [taxes] then employer National Insurance is definitely not the best place to go’.
07/11/2024
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15/07/2026
Taxpayers urged to get ahead of July self assessment payment deadline
HMRC is reminding millions of self assessment taxpayers to prepare for the 2025 to 2026 tax year second payments on account 31 July deadline.
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Government steps up drive to reconnect young people with £1.6 billion
The government is stepping up its efforts to reconnect young people with unclaimed savings in Child Trust Funds (CTFs).
Targeted subsidies are needed for firms to tackle Britain’s NEETs crisis
Targeted subsidies, rather than expensive tax breaks, are the most cost-effective way of supporting employers to get young people into work, according to Resolution Foundation analysis.
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