- By Faisal Islam & Jonathan Josephs
- Economics editor & Business reporter
Jeremy Hunt has hinted at more tax cuts in the upcoming Budget
The International Monetary Fund (IMF) has “advised the UK against further tax cuts”, as it launched its latest assessment of the world economy.
It said preserving public services and investment implied higher spending than was reflected in the government’s current plans.
The IMF suggested the Treasury’s pencilled-in spending cuts from this year were unrealistic.
Chancellor Jeremy Hunt said tax cuts could be a big help in boosting growth.
Mr Hunt has hinted heavily about more tax cuts in his upcoming Budget in March.
The IMF is an international organisation with 190 member countries, including the UK. They work together to try to stabilise the global economy.
One of the Fund’s jobs is to advise its members on how to improve their economies.
The latest comments from the IMF came as it downgraded its forecasts for UK growth next year from 2% to 1.6%, partly as a statistical consequence of growth having been revised higher…
