#budget-deficit

#budget-deficit

Rachel Reeves is poised to unveil a package of planning reforms and tax increases in her first full Budget on 26 November, as the Chancellor faces the daunting task of closing a £30 billion shortfall in the public finances. The Treasury is said to be exploring a range of measures to stimulate growth while raising revenue, including restoring the bank surcharge to 8 per cent-a move expected to generate around £2 billion annually.

"National debt" is a term thrown around quite frequently during political discussions. This often-staggering figure is the amount of money a country owes its creditors. But what or who constitutes as a creditor to a major nation? These can include institutions both overseas and at home, as well as other foreign countries. Though any sort of debt is generally painted in a negative light, national debt is normal and often goes along with a healthy economy; it can even help stimulate growth.

The US Treasury's gold reserves have surpassed $1 trillion in value - more than 90 times what's stated on the government's balance sheet - as the precious metal breaks new all-time highs. The world's biggest gold stash passed the milestone after prices rose above $3,824.50 an ounce on Monday, in a 45% rally this year. Its official value, however, based on the $42.22-an-ounce price set by Congress in 1973, is fixed at just over $11 billion.

Ontario's economy is going to continue to slow this year as U.S. tariffs reduce demands for exports and businesses cut back on investments and hiring, a new report estimates. The province's real GDP growth is projected to slow to 0.9 per cent this year and 1.0 per cent next year due to the impact of U.S. tariffs, says the report from the Financial Accountability Office of Ontario (FAO), released Wednesday.

PM Bayrou is expected to lose, but a deadlock in parliament means France might struggle to find a replacement who can pass a budget aimed at cutting the deficit. The French government looks set to collapse in a vote of no confidence and tip the eurozone's second biggest economy into a political crisis. Prime Minister Francois Bayrou is expected to be ousted, casting doubt over President Emmanuel Macron's future. Monday's vote hinges on Bayrou's unpopular budget proposal for 2026, designed to slash France's fiscal deficit.

Following staffing cuts in June, another round of layoffs is coming at the University of Oregon, with entire departments potentially on the chopping block as the university seeks to address a projected budget deficit. In a June town hall, University of Oregon (UO) President Karl Scholz announced that the university was facing a significant budget shortfall due to a failure to meet its out-of-state enrollment targets, uncertainty about federal funding levels, and a variety of other costs.

Government borrowing came in well below expectations in July, offering some short-term relief to chancellor Rachel Reeves as she prepares her autumn budget. Public sector net borrowing totalled £1.1 billion last month, the Office for National Statistics (ONS) said - less than half the £2.6 billion forecast by economists and below the Office for Budget Responsibility's (OBR) £2.1 billion projection.

The supervisors are apparently considering a five-eighths of a cent tax, which would raise the countywide sales tax rate to 9.75%.

City Council considered a possible tax rate election to address Austin's $33 million deficit with a proposed budget of $6.3 million. The maximum increase could be 8 cents.

The UK government borrowing surpassed forecasts in June, with a budget deficit of £20.7 billion driven by a surge in debt-interest payments.

Income inequality is an existential threat to society, impacting public health, educational outcomes, and housing security. We must address this pressing issue through local taxes.

"Parking fees at this level don't generate any revenue, especially if you have different rules for each lot," said Kamen.

It is my view that over the 10-year window it will decrease.

"I ask you for your full support," Councilmember Noel Gallo said at Tuesday's meeting. "I was here from the very beginning when we brought Becker Boards to Oakland, and I will tell you my experience has been an extremely positive one."

We have to take this very, very seriously, said Councilmember Marilyn Librers, who recalled that in the late 90s, tight budgets forced the city to shut down several programs and services. This polarized the community and impacted public trust. Tackling this issue now is critical to ensure we don't repeat that history.

The Big Beautiful Bill is likely to increase the budget deficit, with estimates from CBO and CRFB suggesting an additional $2.3-$3.1 trillion over 10 years due to tax cuts outweighing spending reductions.

I'm trying to build as much financial flexibility today as we possibly can, because tomorrow you'll have less, (and) the day after less.