Target pensions or welfare , not banks , IMF tells John Healey

The International Monetary Fund (IMF) has advised UK official John Healey to focus budgetary savings on pensions and welfare rather than imposing additional taxes on banks. The recommendation comes as Healey prepares for an upcoming budget.

While the IMF pushes for alternative fiscal targets, supporters of the planned bank taxes argue that financial institutions were bailed out by taxpayers during the global financial crisis and possess the financial capacity to contribute more.