Chancellor Jeremy Hunt urged by International Monetary Fund not to cut UK taxes

The International Monetary Fund (IMF) has warned Chancellor Jeremy Hunt that he should not be planning to cut taxes any time soon.

In what will be seen as a bombshell intervention ahead of this year’s election, the IMF said measures such as preserving high-quality public services required higher spending than was currently reflected in the government’s plans.

The comments, issued alongside the Fund’s latest update to its economic forecasts, come after Mr Hunt signalled that he plans to cut taxes in March’s spring budget.

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