The International Monetary Fund said, that the United Kingdom should make changes to its medium-term fiscal consolidation strategy.
Reducing of tax expenses could improve the tax regime’s efficiency, increase tax neutrality and to free up revenues, the IMF has said in its 2015 Article IV report.
The report also said that further property tax reform could decrease the shortage of housing.
It recommended easing the tax burden on real estate transactions and increase the fees that are based on the property value.Also recommended to reduce tax rebates on the property of a single occupier.
The IMF said that the reduction of the bias of tax code toward debt could contribute financial stability.