Tag: public finances
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Tax on Middle-Class Homes: Reeves’ Plan to Raise Billions
Overview: A new levy aimed at middle-class homeowners Chancellor Rachel Reeves is reportedly preparing a new levy as part of the upcoming Budget, aiming to raise a substantial sum to shore up the nation’s finances. The proposed measure centers on high-value mid-market homes and is slated to contribute to a broader plan to shore up…
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Rachel Reeves targets middle-class homeowners with new Budget levy
Budget aims and new levy Chancellor Rachel Reeves is preparing to present a budget that includes a new levy aimed at middle-class homeowners. The government says the measure is designed to raise £25bn to strengthen the public finances, a sum that could influence tax and spending decisions across the economy. Details have emerged as Reeves…
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PBO Flags Liberal Budget Accounting, Cites Long-Term Sustainability
Overview: PBO scrutiny ahead of the vote As MPs prepare to weigh the Liberal budget, the interim Parliamentary Budget Officer (PBO), Jason Jacques, has raised questions about the government’s accounting methods. He argues that there is a less than a 10 per cent likelihood the fiscal plan will stay within its reported parameters, while also…
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Budget 2025: Starmer and Reeves ditch plans to raise income tax
Overview: A sudden U-turn ahead of Budget 2025 The political landscape surrounding the upcoming Budget 2025 has shifted dramatically as Sir Keir Starmer and Rachel Reeves abandon their manifesto pledge to raise income tax. In what appears to be a rapid political recalibration, the Labour leadership has signaled that it will not pursue an increase…
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COVID-19 Levy to Go: What to Expect from the 2026 Budget and Economic Statement
Introduction: A Budget Anticipation in Parliament The 2026 Budget and Economic Statement, presented by the Minister of Finance, Dr. Cassiel Ato Forson, is set to shape the coming year’s economic landscape. With widespread calls from residents, business groups, and civil society for tax relief and streamlined public finances, the big talking point is the proposed…
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COVID-19 Levy to go: What Ghana’s 2026 Budget Means for Households and Businesses
Executive snapshot: COVID-19 levy to go in the 2026 Budget The 2026 Budget and Economic Statement, to be presented by the Minister of Finance, Dr Cassiel Ato Forson, is expected to include the elimination of the COVID-19 levy. With economic pressures easing for some sectors and a push to simplify the tax code, the government…
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Rinkēvičs Emphasizes Budget Adoption as First Priority for Latvia’s Coalition
Latvia’s Coalition Faces Public Scrutiny While Prioritizing the Budget In Latvia, the governing coalition—comprising New Unity, the Progressives, the Greens and Farmers’ Union, and allied partners—finds itself navigating a delicate balance between internal disagreements and the practical need to adopt a national budget. The statement from Foreign Minister Edgars Rinkēvičs crystallizes a central takeaway for…
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The real reason Rachel Reeves is resorting to yet more tax rises
Unpacking the motive behind Reeves’ tax plan When Labour leader-in-wuture Rachel Reeves outlines plans for higher taxes, analysts, voters, and market watchers tune in not just for the numbers but for the underlying rationale. Reeves has repeatedly framed her fiscal approach as a response to structural weaknesses in the UK economy, not as a reckless…
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Why the OBR’s Fiscal Risks Report Should Shape Our Tax Debate on Electric Cars and Public Finances
Understanding the OBR’s Fiscal Risks and Sustainability Report When the Office for Budget Responsibility (OBR) releases its biennial Fiscal Risks and Sustainability report, it’s not merely a snapshot of the budget. It is a forward-looking map that highlights where public finances may wobble in the coming decades. For policymakers, journalists, and citizens, the document offers…
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Business chiefs urge Reeves to take unpopular tax steps to meet Budget ambitions
UK business leaders press for bold Budget choices British business chiefs are urging Chancellor Rachel Reeves to make a decisive, even unpopular, shift in the upcoming Budget. They argue that in order to reset growth, modernise the tax system and fund long-term investment, the government must consider difficult decisions that could challenge party manifesto promises.…