President William Ruto on Thursday proposed the renaming of the Kenya Revenue Authority. In his proposal, the President said the renaming will be part of a culture change to make the authority people friendly.
the value of the pound has dropped again today by nearly a percent against the dollar as investors digest the warning from the international monetary fund about the uk government s fiscal plans. the imf has openly criticised the plan for widespread tax cuts, warning the measures are likely to fuel the cost of living crisis and increase inequality. here s michelle fleury with more details in new york. one of the roles of the international monetary fund is to act as an early economic warning system, and it has just sounded the alarm over the uk s new tax and spending plans. in a statement, the fund warned, given elevated inflation pressures in many countries, including the uk, we do not recommend large and untargeted fiscal packages. even more pointedly, it suggested that the november 23rd budget presented an opportunity for the government to re evaluate tax measures, especially those that
good morning and welcome to the bbc news channel. the international monetary fund which works to promote stability in the global economy has criticised the government s plans for tax cuts, warning the measures are likely to fuel the cost of living crisis. in an unusually outspoken statement the imf said the uk s developments were being closely monitered, and said untargeted fiscal packages were not recommended during a period of high inflation. it warned the government it s mini budget risked increasing inequality. the white house also criticised the government s policy saying it was important to focus on fiscal prudence, and fiscal discipline . the pound dipped in asian trade this morning standing at around $1.00. the imf said that the government s fiscal plan in late november would give it an opportunity to re evaluate tax measures
of living continue to dominate the front pages. the telegraph leads on the statement from the international monetary fund calling on the government to re evaluate its tax measures and consider more targeted support. nina telling us that that sort of thing just doesn t normally happen. the times focuses on the housing market, reporting that a combination of increased rates, inflation, and the risk of a recession could cause house prices to fall by 15%. sir keir starmer s keynote speech to his party s conference leads on the mirror it describes the speech as rousing and a message of hope . the labour leaderjoins us at 08:30. we will look at this this morning, get some advice. and the express says that a twindemic of covid and flu viruses could wreak havoc on the health service this winter . good morning! this is a miserable
the imf said that the government s fiscal plan in late november would give it an opportunity to re evaluate tax measures especially those which benefit high income earners. the uk government proposals would scrap the top rate of income tax and end a cap on bankers bonuses, among other measures. the announcement on friday sparked financial turmoil, as investors dumped the pound. on monday the pound fell to record lows against the dollar. some of the country s biggest lenders have suspended mortgage deals amid the uncertainty. the treasury said: we are focused on growing the economy to raise living standards for everyone. adnan mazarei is a former deputy director at the imf. here s his reaction on the today programme. the imf doesn t make such strong statements about g7 countries. these statements are common with regard to emerging market countries with problematic policies,