In a striking twist of incidents, the UK government announced on Monday a U-turn of its latest expensive and unfunded tax cut policy. After the Bank of England’s intervention last week to calm the bond market, the British pound rallied and was able to consolidate for a while.While the Prime …
Read More »IMF criticizes UK tax cuts, urges reconsideration
The International Monetary Fund has joined a wide range of institutions worldwide criticizing the UK’s huge tax cuts in a plan that has exerted mega pressure on the pound which was plunging to a record low.With this rare criticism of the UK’s large developed economy, the International Monetary Fund is …
Read More »