IMF urges UK govt: Reevaluate tax cuts

By Associated Press

Sep 29, 2022 12:09 am

LONDON: The International Monetary Fund (IMF) has urged the United Kingdom government to 'reevaluate' a package of unfunded tax cuts that it says may fuel inflation and are likely to increase economic inequality.

The value of the pound sagged on Wednesday morning after the rare IMF warning to a Group of Seven economy, trading at under $1.07.

Pedestrians walk past the Bank of England in central London, United Kingdom on Tuesday, Sept. 27, 2022. AFP PHOTO

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