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IMF tells Britain to keep spending to fend off coronavirus crisis

IMF staff said increases in the rate and scope of major taxes would be almost inevitable.

IMF
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Sunak welcomed the IMF report, which he said endorsed his economic policies and his warnings that there would need to be action in future to reduce borrowing.

Reuters
Britain can afford to ramp up its already massive spending push to counter the effects of the coronavirus pandemic on the economy, the head of the International Monetary Fund said on Thursday.

The British government should increase public investment and bolster its welfare support for people who lose their jobs because of the crisis, said Kristalina Georgieva, the IMF's managing director.

It should also continue supporting companies and protecting workers until the economic hit eases, Georgieva said at the end
of a review of Britain's economy by the Fund.

"My main message today is that continued policy support is essential to address the pandemic

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First Published: Oct 29 2020 | 9:18 PM IST

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