THE UK Government has been “advised against” implementing further tax cuts by the International Monetary Fund (IMF).

In the IMF’s latest assessment of the global economy, it was suggested that the UK’s plans for further tax cuts before the next General Election would imperil public services.

The Washington-based fund said their analysis showed the UK would need to generate higher tax revenues in order to meet demands from public services without resorting to extra borrowing.

An IMF spokesperson urged Rishi Sunak’s government to “strengthen carbon and property taxation, eliminate loopholes in wealth and income taxation and reform the pensions triple lock”.

They added: “It is in this context that [IMF] staff advises against further tax cuts.”

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Chancellor Jeremy Hunt is expected to unveil tax cuts in his pre-election budget on March 6, with cuts to income tax or national insurance being considered.

However, the Institute for Fiscal Studies (IFS) has said they are likely to be reversed post-election and that Hunt cannot “wish away” the reality of the UK’s debt.

Responding to the IMF’s advice, Hunt said: “It is too early to know whether further reductions in tax will be affordable in the budget but we continue to believe that smart tax reductions can make a big difference in boosting growth.”

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Last week, director of the IFS, Paul Johnson, called on parties to “be honest” about the consequences of tax cuts.

He said: “If they are promising tax cuts, let’s hear where the spending cuts will fall. If they are going to raise, or even protect spending, they should tell us where taxes will rise.

“To campaign should be to present clear choices and trade-offs to the electorate.”