Gordon Brown has spoken out against the IMF and EU after the two bodies claimed that the chancellor might well have to increase taxes to balance the treasury’s books.
The Daily Telegraph reports that the IMF criticised Brown for allowing public finances to deteriorate, saying that ‘mild fiscal adjustment’ in the form of spending cuts or tax rises would be needed.
Brown answered back by saying that debt in the UK was under control and compared favourably with other countries with large economies.
‘Debt in the UK is well below the 40pc of gross domestic product ceiling we set in our fiscal rules; lower than all the major industrial countries,’ Brown was quoted as saying.
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Accountancy watchdog the FRC has dropped its investigation into the former chief financial officer of Tesco, nearly two years after the supermarket was engulfed in an accounting scandal
Colin imagines how Apple's logo might change in the wake of the EC's ruling over its Irish tax arrangements