According to its annual health check of the UK economy, the IMF has warned the Treasury any spending should be offset by removing the zero-rating of VAT on food and increasing charges for public services.
Most of the increase would fall on richer households, and poorer households could be compensated by larger tax credits.
However, the Treasury rejected the VAT proposal, saying the government was bound by a manifesto promise not to change the zero-rating.
Does Darwin's theory apply to taxation? Colin ponders...
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
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