IMF suggests governments raise tax on wealthy to support COVID-19 costs

The International Monetary Fund (IMF) says governments should consider raising taxes on the wealthy to help pay for the cost of COVID-19.
It suggested a temporary increase in taxes on wealth or high incomes could help tackle inequalities that have widened due to the crisis.
In its fiscal report, it added the move would help the worst affected by the pandemic feel a sense of cohesion.
But the organisation urged governments to "carefully assess trade-offs".
The International Monetary Fund pointed to the reform of current policies on inheritance taxes or property, for example, before turning to wealth taxes.

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