IMF Advises UK to Cut Spending Instead of Raising Bank Taxes

• Chancellor John Healey is considering raising taxes on bank profits to address spending challenges.
• The IMF advises against raising taxes on banks and suggests cutting public spending instead.
• This debate occurs as Healey prepares for the upcoming budget.
• Elsewhere, South Korea's Kospi share index experienced its largest weekly loss since October 2008, down 14.5%.
• Despite a 2% rise today, technology stocks faced significant losses due to investor concerns about borrowing and spending.