Tag: Economic Policy
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Albanese’s Salad Days: Navigating Stagflation, Soaring Bills, and Political Spectacle
Introduction: A Prime Minister in a Tight Spot Anthony Albanese returns from yet another international foray to find Australia grappling with stubborn inflation, rising energy and grocery costs, and a political climate quick to connect the dots between global turbulence and everyday wallets. The spectre of stagflation—slower growth paired with high prices—looms over the Prime…
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Lee Jae Myung Urges Closer APEC Ties for Growth in Asia-Pacific
South Korea’s Leader Pushes for Stronger APEC Cooperation Gyeongju, South Korea — In a speech delivered amid ongoing economic uncertainty, President Lee Jae Myung urged member economies of the Asia-Pacific Economic Cooperation (APEC) to deepen their cooperation and adopt pragmatic measures that can cushion the region from volatility. Speaking at a regional gathering, Lee underscored…
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Senate Votes to End Global Tariffs Placed by Trump on 100+ Countries
Overview of the Vote The U.S. Senate on Thursday moved to roll back a key plank of Donald Trump’s trade policy by voting 51-47 to end the so-called reciprocal tariffs that had been imposed on more than 100 countries. Four Republicans joined all Democrats in support of the resolution, signaling broad bi‑partisan frustration with a…
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US Senate Votes to End Trump’s Global Tariffs on 100+ Countries
Congress Acts to Undo Controversial Global Tariffs The US Senate has moved to nullify a set of reciprocal tariffs that target more than 100 countries, marking a significant shift in the nation’s approach to trade policy. In a 51-47 vote, four Republicans joined all Democrats to approve a resolution aimed at ending what supporters described…
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Treasury Defends Steady Shilling as Indicator of Economic Strength
Introduction: Treasury Stands Behind the Shilling The Kenyan National Treasury has publicly defended the local currency, insisting that the shilling remains steady and that recent volatility concerns do not reflect a weakening economy. In response to media reports about potential strains flagged by the International Monetary Fund (IMF), Treasury officials emphasized that the current exchange…
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Tinubu Approves 15% Import Duty on Petrol and Diesel
President Tinubu Announces 15% Import Duty on Petrol and Diesel In a surprising policy shift, President Bola Tinubu has approved a 15 percent ad valorem import duty on premium motor spirit (PMS), commonly known as petrol, and on diesel. The approval, disclosed in a letter dated October 21, 2025, signals a strategic move by the…
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Reeves eyes income tax rise: what it means for the UK Budget
Disclaimer and context Thursday’s papers carry spoilers for The Celebrity Traitors, but the political headlines next to them are about a potential shift in Britain’s tax policy. The Daily Telegraph reports that Labour frontbencher Rachel Reeves is weighing a small increase to income tax in the forthcoming Budget. While no policy is final, the suggestion…
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Those Left Behind: The Forgotten in the Fight Against Global Poverty
Introduction: A Persistence at Odds with Progress Poverty is more than a lack of money. It is a multifaceted violation of human dignity that limits choices, opportunities, and a sense of security. While the international community has pursued ambitious goals like the Millennium Development Goals (MDGs) and the Sustainable Development Goals (SDGs), shocks such as…
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DEPDev Chief Balisacan Pushes Stricter Tax Enforcement Over VAT Cuts and Holiday Proposals
Policy stance: Prioritizing enforcement over tax holidays Department of Economy, Planning, and Development (DEPDev) Secretary Arsenio M. Balisacan underscored a clear preference for tightening the grip on existing tax measures rather than introducing new reliefs such as tax holidays or lowering the 12% value-added tax (VAT). Speaking at the European-Philippine Business Dialogue (EPDB) during the…
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Reeves: Those with Broadest Shoulders Must Pay Their Fair Share in UK Tax Plan
Britain’s Budget Cliffhanger: Reeves Signals Taxation Based on Capacity Chancellor Rachel Reeves has outlined a principle that could steer the UK’s upcoming budget: those with the broadest shoulders should pay their fair share of taxes. Speaking in Washington, DC, on the eve of the autumn budget, Reeves indicated the government will pursue a package of…