Reported 5 months ago
The IMF has urged the UK government to consider raising additional revenue through higher carbon and road-usage taxation, broadening the VAT and inheritance tax bases, and reforming capital gains and property taxation to fund extra spending and stabilize debt. The Chancellor, Jeremy Hunt, has been warned by the IMF that the budget plans do not account enough for known pressures in public services and critical growth-enhancing investment needs. Additionally, the owner of South West Water has cut its dividend by £2.4m after being fined for illegally dumping sewage. In the markets, UK stocks fell at the open, with the FTSE 100 down 0.4%, while the pound was close to a two-month high against the dollar. AstraZeneca expects to nearly double its revenue by 2030, and the owner of B&Q and Screwfix, Kingfisher, reported a rise in sales but warned of weaker spending on big-ticket items.
Source: YAHOO