Britain Tests the Limits With Plan to Tax Its Way Out of Debt

The International Monetary Fund praised Britain's deficit-reduction plan this month as the boldest among Group of Seven nations. Chancellor of the Exchequer John Healey announced the plan would rely entirely on tax increases rather than spending cuts. Economists noted the approach represents a departure from deficit-reduction strategies typically used by other major economies.

• Bloomberg — Britain Tests the Limits With Plan to Tax Its Way Out of Debt

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