The International Monetary Fund has Openly Criticized the United Kingdom Government Tax Plans.

The International Monetary Fund IMF has openly criticized the United Kingdom UK government over its plan for tax cuts, warning that the measures are likely to fuel the cost-of-living crisis.

In an exceptional outspoken statement, the IMF said the proposal would be likely to increase inequality and add to pressures pushing up prices.

Markets have already raised alarm over the plans, sending the pound plunging.

The government says the measures will kick start economic growth after

Chancellor Kwasi Kwarteng unveiled the country’s biggest tax package in 50 years on Friday.

The 45billion pound cut will be funded by government borrowing.