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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30/03/2026
Hundreds of employers handed penalties for illegally underpaying workers
Almost 400 employers from across the UK have been named for failing to pay the minimum wage to tens of thousands of workers, says the government.
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HMRC website seeks to close tax knowledge gaps
HMRC has launched a new ‘Tax Confident’ website which it says will help people fill their tax knowledge gaps.
Self-employed gender pay gap is £51 per day
Self-employed women in the UK earn £51 less per day than men on average, according to IPSE, the self-employed association.
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