Chancellor's Budget tax increases 'will boost growth sustainably', says IMF - Article Milton Keynes & Wellingborough : Crouchers

Chancellor's Budget tax increases 'will boost growth sustainably', says IMF

Commenting on Chancellor Rachel Reeves' recent Autumn Budget, the International Monetary Fund (IMF) stated the tax increases announced will 'boost growth sustainably'.

04 Nov 2024

Commenting on Chancellor Rachel Reeves' recent Autumn Budget, the International Monetary Fund (IMF) stated the tax increases announced will 'boost growth sustainably'.

The IMF said it approves of the UK government's plans to 'boost growth through a needed increase in public investment, while addressing urgent pressures on public services'.

An IMF spokesperson said: 'We support the envisaged reduction in the deficit over the medium term, including by sustainably raising revenue.'

The Chancellor recently conceded that her Budget measure to raise employer National Insurance contributions (NICs) will lead to employees being paid less. Paul Johnson, Director at the Institute for Fiscal Studies (IFS), commented that 'if you are to lean on one of the big three [taxes] then employer National Insurance is definitely not the best place to go'.

He continued: 'It is likely to impinge more disproportionately on workers and their employers than would an increase in, say, the basic and higher rate of income tax.'

acca ncc-member-logo.png mk-member-logo.png bcoc-logo.png

Home | Contact us | Site map | Accessibility | Disclaimer | Privacy | Help |

Crouchers Chartered Accountants, 2 Copperhouse Court, Caldecotte Business Park, Milton Keynes, Buckinghamshire MK7 8NL
Crouchers Chartered Accountants, Charles House, 6 Regent Park, Booth Drive, Wellingborough, Northants NN8 6GR
Crouchers Ltd | Registered Office : Milton Keynes address above | Co. No. : 08647307 | Registered in England
Crouchers Chartered Accountants is registered to carry out audit work in the UK by The Association of Chartered Certified Accountants. Details of our registration can be viewed at www.auditregister.org.uk.

Send an email: hello@crouchers.co.uk

Crouchers Chartered Accountants - Accountants in Milton Keynes & Wellingborough

© 2025 Crouchers Chartered Accountants. All rights reserved. We use cookies on this website, you can find more information about cookies here.