The IMF faces a backlash after warning Jeremy Hunt his tax cuts could push up ... trends now
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The International Monetary Fund faced a backlash yesterday after warning Jeremy Hunt that his tax cuts were likely to push up debt.
It took aim at the Chancellor's recent two percentage point cut in National Insurance contributions, costing £9billion a year.
In a report, the IMF said the cut could 'worsen the debt trajectory in the medium term' - meaning the Chancellor would fail to meet the Government's own target for cutting debt.
Mr Hunt went ahead with the reduction in NIC at last month's Budget despite a previous intervention from the Fund earlier this year.
They advised against the cut and said that the Government should spend more money on the NHS and the
