IMF tax stance is music to Labour economists' ears | Larry Elliott
by Larry Elliott Economics editor from Economics | The Guardian on (#34RKQ)
While they have never been bedfellows, the IMF's recent report supporting higher taxes for the rich will feel like an endorsement for John McDonnell
To put it mildly, the Labour party's relationship with the International Monetary Fund has not always been a happy one.
Memories of 1976, when an IMF team forced Jim Callaghan's government to cut public spending in return for an emergency loan, are powerful to this day.
Related: IMF: higher taxes for rich will cut inequality without hitting growth
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