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IMF urges UK to prioritise pension and welfare savings over bank taxes
40%
The IMF said the UK's tax-to-GDP ratio is roughly 40%.
The International Monetary Fund urged John Healey to prioritise savings from pensions and welfare rather than raising taxes on UK banks. Bank lobbyists warned that higher taxes could reduce lending and investment, while others argued banks could afford to pay more.
1 sourceThe GuardianUpdated
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The International Monetary Fund urged John Healey to prioritise savings on pensions and welfare rather than taxing UK banks.
“The International Monetary Fund has urged John Healey to target savings on pensions and welfare, instead of taxing Britain’s banks”
- 40%
The IMF said the UK's tax-to-GDP ratio is roughly 40%.
“taxes roughly at 40% of GDP”
The IMF official suggested property taxes or VAT as possible sources of additional UK tax revenue.
“reforming property taxes or VAT might be a good place to start”