Cut Benefits Instead of Taxing Banks, IMF Tells Healey

IMF: Healey should cut welfare spending instead of taxing banks

IMF warns John Healey to consider spending cuts rather than raising bank taxes

The Chancellor is reportedly considering reversing a reduction in the surcharge banks pay on their profits.

Cut benefits instead of taxing banks, IMF tells Healey

From Alex Brummer in Bangkok and Hugo Duncan

IMF warns UK against higher bank taxes ahead of October budget

The IMF says Britain should consider spending reforms rather than rely on higher taxes on banks.Unions and think tanks argue a higher bank surcharge could raise billions of pounds.Banks and business groups warn further sector-specific taxes could deter investment and weaken competitiveness.The International Monetary Fund (IMF) has urged Britain to consider cutting public spending rather than raising taxes on banks, as the Government weighs optio…

IMF suggests UK should cut spending rather than raise taxes on banks, as Healey prepares budget raid – business live

Rolling coverage of the latest economic and financial news * John Healey poised to raise taxes on banks in budget Elsewhere in the markets today, South Korea’s Kospi share index has recorded its biggest weekly loss since October 2008, down 14.5% this week. Although the Kospi did rise today (+2%), it was still a bad…