House prices worry IMF - papers 8 March

The Times says fears of a return to boom-and-bust in the property market intensified yesterday after the International Monetary Fund (IMF) said recent rises in house prices were a cause for concern and Halifax reported the largest annual increase in home values for 12 years. The Telegraph writes that the IMF said yesterday the Government should consider introducing value added tax (VAT) on food and children's clothing to fund improvements in public services. In its annual report on the UK economy, the IMF added that the Government could face a deterioration in the public finances as...