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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15/04/2026
Government unveils crackdown on late payments
Small businesses to be backed by new, stronger measures to tackle late payments, the government has announced.
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New procurement rules offer SMEs hope
The government’s new procurement rules that target opportunities for smaller businesses offer hope to SMEs, according to the British Chambers of Commerce (BCC).
Tourist tax would hit consumers with £1.6 billion tax rise
The government’s proposed tourist tax would constitute a £1.6 billion tax increase for holidaymakers, according to analysis by Oxford Economics.
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