20 Hrs
Source:
The Guardian
IMF urges targeting welfare over banks
The International Monetary Fund advised the UK government to focus on taxing pensions and welfare instead of raising taxes on banks. City lobbyists have warned that increasing bank taxes could reduce lending, harm the economy, and lead to job and operational relocations abroad. Despite strong bank profits and calls for higher taxes on banks, officials suggest reforms to property taxes and VAT as alternative revenue sources, emphasizing caution over bank-specific tax increases.
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