Beware risks of voter giveaways to public finances, countries facing elections told

IMF says reduction in national insurance may have made cutting UK national debt more difficult

The International Monetary Fund has issued a strong warning to Britain and other countries facing elections this year to avoid voter giveaways that might pose risks to their public finances.

In its half-yearly fiscal monitor, the IMF said the reduction in national insurance contributions (NICs) announced by Jeremy Hunt in his budget last month may have already made cutting the UK’s national debt more difficult.