Reeves’s £40bn tax rises will boost growth ‘sustainably’, says IMF

Rare intervention comes as Resolution Foundation says UK will remain ‘stagnation nation’ despite push to invest

The International Monetary Fund has welcomed the measures announced by Rachel Reeves in her first budget, saying her £40bn of tax rises would boost growth “sustainably”.

In a rare intervention, the Washington-based IMF backed her increase in investment and extra spending to ease the financial pressure on public services and boost growth.

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Reeves’s £40bn tax rises will boost growth ‘sustainably’, says IMF

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