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IMF urges Liz Truss and Kwasi Kwarteng to rethink UK tax cuts in rare intervention

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UK Prime Minister Liz Truss and Chancellor of the Exchequer Kwasi Kwarteng. Photo: Dylan Martinez/PA Wire

UK Prime Minister Liz Truss and Chancellor of the Exchequer Kwasi Kwarteng. Photo: Dylan Martinez/PA Wire

UK Prime Minister Liz Truss and Chancellor of the Exchequer Kwasi Kwarteng. Photo: Dylan Martinez/PA Wire

The International Monetary Fund (IMF) has criticised UK Prime Minister Liz Truss and her Chancellor Kwasi Kwarteng’s economic policies, warning that “large and untargeted fiscal packages” would likely deepen inequality in Britain.

In a rare intervention, the IMF took aim at the British government after the UK chancellor’s mini-Budget on Friday caused sterling and bonds to plummet and gilt yields to soar, raising the cost of borrowing.


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