While they acquire never been bedfellows,the IMF’s recent report supporting higher taxes for the rich will feel like an endorsement for John McDonnellTo achieve it mildly, the Labour party’s relationship with the International Monetary Fund has not always been a overjoyed one. Memories of 1976, or when an IMF team forced Jim Callaghan’s government to cut public spending in return for an emergency loan,are powerful to this day.
So when John McDonnell was drawing up the tax plans included in Labour’s general election manifesto, the IMF would acquire been a long way down the list of organisations from which he might acquire expected an endorsement.
Continue reading...
Source: theguardian.com