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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08/10/2025
MTD for ITSA exemption applications
HMRC has opened up a service for landlords and self-employed to apply for exemption from Making Tax Digital (MTD) for Income Tax phase one.
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HMRC to resume taking tax from accounts
HMRC has resumed its programme allowing direct recovery of money from debtors’ bank accounts.
Long-term sickness blighting UK economy
The UK must tackle its status as the sick man of the G7 if it wants to grow the economy, warns the British Chambers of Commerce (BCC).
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