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IMF Chief Says Truss Reversal of Tax Cut Is ‘Good Decision’ (1)

Oct. 3, 2022, 2:45 PM

The move by Prime Minister Liz Truss’s government to abandon a tax cut for top earners in the UK is a “good decision,” the International Monetary Fund’s top official said, days after the original plan drew stinging criticism from the global crisis lender.

“The decision the UK has taken to ease the potential pressure on their revenues is a good decision,” Managing Director Kristalina Georgieva told reporters at an event in Riyadh on Monday.

Chancellor of the Exchequer Kwasi Kwarteng announced the reversal on his Twitter account early Monday, saying “we get it, and we have listened.” He said ...