Tax revenue jumps 22% in April. But US deficit still looms large
US Treasury ran a surplus in April due to a 22% increase in tax payments, but is still projected to have a deficit over $1.5 trillion for the year. [ more ]
All the things missed out of Jeremy Hunt's spring Budget
Jeremy Hunt's budget included a 2p cut in national insurance contributions, but key measures like cutting income tax, scrapping the tourist tax, and business rates reform were notably absent. [ more ]
Martin Lewis writes to Jeremy Hunt with four demands for spring Budget
Martin Lewis has written to the chancellor urging him to fix financial penalties that are affecting millions of people across the country.
The penalties include child benefits rules, ISA scheme punishments for first-time buyers, above inflation phone and broadcast price hikes, and real terms cuts to student living loans. [ more ]
Biden Looks to Raise Tax Revenue When Trump Cuts Expire Next Year
Lawmakers should sharply raise taxes on corporations and the rich to reduce deficits while maintaining tax cuts for those earning $400,000 or less. [ more ]
Penury and decay mark Brexit's miserable anniversary | William Keegan
Brexit has resulted in the UK facing trade barriers and a squeeze on public spending, while the government prioritizes tax cuts over relief for local authorities.
The reduction in central government grants to councils is to blame for their financial struggles, not supposed profligacy. [ more ]
Reform UK promises radical tax cuts to woo disgruntled Tory voters
Reform UK proposes tax cuts for higher and basic income thresholds, stamp duty, inheritance tax, and corporation tax. Reform's gaining support might impact the Tory party's chances in the upcoming general election. [ more ]
Fewer than 1 in 5 Tory voters want tax cuts if it means cuts to spending
Britons prioritize public spending over tax cuts, challenging government plans for pre-election tax giveaways.
The Fairness Foundation poll indicates widespread support for maintaining or increasing taxes, with only a small percentage favoring tax cuts at the expense of public services. [ more ]
Britain's Conservative government warned against tax cuts by IMF economist
The IMF's chief economist advises the UK government against further tax cuts due to sluggish economic growth and increasing demands for spending on healthcare and education.
The UK Treasury chief is expected to cut taxes to boost support for the Conservative Party in an election year, but the IMF warns that cutting taxes would be a mistake. [ more ]
Hunt's tax cut pledges likely to be reversed after election, IFS warns
The Institute for Fiscal Studies warns that any tax cuts promised at the next general election will need to be quickly reversed due to the UK's debt challenge
The chancellor is considering tax cuts as part of a pre-election giveaway but the IFS warns that managing the increasing cost of debt interest will prove difficult [ more ]
Britain's economy grows by more than expected in hope to avoid recession
UK economy grew by 0.3% in November, beating expectations and boosting hopes of avoiding a recession.
Services sector was the biggest contributor to economic growth in November, rising by 0.4%.
Chancellor of the Exchequer Jeremy Hunt sees slower growth ahead but believes tax cuts will put the UK in a strong position for future growth. [ more ]