IMF urges prime minister not to cut taxes, invest green instead

IMF urges prime minister not to cut taxes, invest green instead

The International Monetary Fund (IMF) has told the three remaining candidates to replace Boris Johnson as Tory leader and eventual prime minister in September that they should back away from promises to cut taxes as they focus on spending more money on a green agenda.

Globalists at the IMF have meddled in the UK political system to continue the Build Back Better Green agenda regardless of who comes to power after Boris Johnson leaves office. Britain’s head of mission for the globalist institution, Mark Flanagan, said financing tax cuts with more debt “would be a mistake”.

“I think debt-financed tax cuts at this point would be a mistake,” Flanagan told the BBC in comments. The Times. “The UK has a lower-average tax rate than the rest of the Organization for Economic Co-operation and Development.

“At some point you have to decide, do we want to invest in climate change? Do we want to invest in digitalization? Do we want to invest in skills for people? Well, if you do that, you need resources to do it. And the way to realize those resources is to lift the tax rate a bit.”

While Rishi Sunak, a World Economic Forum acolyte and former Chancellor of the Exchequer, has already pledged to hold off on tax cuts until inflation comes down, Bill Gates-backed Penny Mordant and former Lib-Dem Liz Truss have both said they would cut taxes if installed. British Government or British.

However, in a boon to the globalist agenda, all three candidates – all of whom represent the establishment to varying degrees – said they would continue Johnson’s pledge to transition the UK economy to ‘net zero’ carbon emissions.

Sunak’s high tax stance could be a hard sell to the Conservative Party membership, after Tory MPs narrowed down the candidates to choose the next leader, as it was his leadership at the Treasury that oversaw the biggest increase. Government borrowing during peacetime, raising an additional £330 billion across 2020–21 and 2021–22 in public debt to finance lockdown schemes.

Under the leadership of Sunak and Johnson, the Conservative Party nominally imposed its highest tax burden in seven decades, with many posting Johnson’s failure to cut taxes as a central reason for his downfall as leader.

Contrary to the IMF’s claim, the Center for Economics and Business Research (CEBR) think tank has argued that inflation would increase government revenues, giving the next government around £60 billion in tax cuts. The CEBR said inflation would be £133 billion a year by 2024-25, half of which would be met by planned spending and debt servicing, but the other half would be free for potential tax cuts.

“People are paying more taxes and the question is, is the government going to give them their money back or are they going to blow it on something else?” Douglas McWilliams, Deputy Chairman of CEBR.

Follow Kurt Jindulka on Twitter here @Kurtzindulka

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