The International Monetary Fund (IMF) urged ministers to raid inheritances in a bid to bring down the debt.
Jeremy Hunt has not budgeted enough money for health, social care or net zero, the global financial watchdog has warned.
But the national debt is also rising, so extra spending has to be funded by tax rises instead of more borrowing, it said.
In its review of Britain’s economy and finances, the IMF said that the Chancellor’s plans “do not appear to sufficiently account for known pressures in public services (especially health and social care), and critical growth-enhancing investment needs (including for the green transition).”
A way to help raise spending while stabilising the debt would be by raising taxes by a further one per cent of GDP.
The International Monetary Fund said: “This could be achieved, for example, by raising additional revenue from higher carbon and road-usage taxation, broadening the VAT and inheritance tax bases, and reforming capital gains and property taxation (which could also allow a reduction in stamp duty).”
With that in mind, do you agree with the IMF’s raid on inheritances to bring down debt? Have your say.