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Taxpayers face a generation of pain

...the machinery of adjustment is more unwieldy". The IMF chief was speaking in London, which was apt as the UK has potentially one of the most difficult feats of fiscal consolidation to perform. Its tax revenues were heavily dependent on...

In this article: International Monetary Fund, UK, London, Capital expenditure, Unemployment, Institute for Fiscal Studies, Mervyn King, Robert Chote, Bank of England, and Organisation for Economic Co-operation and Development

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