Category: budget
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Trump chooses Bessent to be treasury secretary, Vought as budget chief, Chavez-DeRemer for Labor
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Trump also said he would nominate Russell Vought to lead the Office of Management and Budget, a position Vaught held during Trump’s first presidency. Vought was closely involved in Project 2025It is a conservative plan for Trump’s second term that he tried to distance himself from during the election campaign.…
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Trump chooses Bessent to be treasury secretary, Vought as budget chief, Chavez-DeRemer for Labor
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Trump also said he would nominate Russell Vought to lead the Office of Management and Budget, a position Vaught held during Trump’s first presidency. Vought was closely involved in Project 2025It is a conservative plan for Trump’s second term that he tried to distance himself from during the election campaign.…
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Budget tax rise puts two in five UK hair salons at risk of closure, warn industry leaders
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The UK hair salon industry faces an uncertain future, with two in five salons at risk of closing due to rising staffing costs outlined in last month’s Budget. Industry leaders, including Carla Whelan, chief executive of Regis and Supercuts salon groups, have expressed concerns about the “devastating” impact of increased…
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Treasury accused of hiding £9.5bn ‘black hole’ in budget, says OBR chief
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The UK Treasury may have broken the law by withholding £9.5bn of spending pressure ahead of Jeremy Hunt’s final Budget in March, according to Richard Hughes, head of the Office for Budget Responsibility (OBR). Hughes suggested vital financial data relating to departmental budgets, required by the OBR under the Budget…
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Treasury accused of hiding £9.5bn ‘black hole’ in budget, says OBR chief
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The UK Treasury may have broken the law by withholding £9.5bn of spending pressure ahead of Jeremy Hunt’s final Budget in March, according to Richard Hughes, head of the Office for Budget Responsibility (OBR). Hughes suggested vital financial data relating to departmental budgets, required by the OBR under the Budget…
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James Dyson condemns ‘spiteful’ inheritance tax in budget, warns of impact on family businesses
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Sir James Dyson has strongly criticized Chancellor Rachel Reeves’ latest Budget, describing the new inheritance tax policy as a “spiteful” move that threatens the future of family businesses in the UK. Under the changes, family-owned businesses and farms worth more than £1m will face a 20 per cent inheritance tax…
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James Dyson condemns ‘spiteful’ inheritance tax in budget, warns of impact on family businesses
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Sir James Dyson has strongly criticized Chancellor Rachel Reeves’ latest Budget, describing the new inheritance tax policy as a “spiteful” move that threatens the future of family businesses in the UK. Under the changes, family-owned businesses and farms worth more than £1m will face a 20 per cent inheritance tax…
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Advanced training fund taxation remains in budget
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The Ministry of Finance published the 2025 budget proposal scheduled to be discussed by the government tomorrow. Including debt repayment, the budget framework is NIS 744 billion. Today (Wednesday), the Ministry of Finance published the 2025 budget proposal, which will be presented tomorrow for approval by the government. The government…
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Cabinet approves Israel’s 2025 budget
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The Israeli Cabinet approved a budget worth NIS 607 billion for 2025 in addition to budget adjustment measures worth a total of NIS 37 billion. The Finance Ministry’s plans that were dropped at the last minute from the budget proposal approved by the Council of Ministers are: reducing tax benefits…
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UK Bosses Signal Tepid Support for Reeves’ High-Tax Budget
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Breadcrumb links BMN Business Chancellor of the Exchequer Rachel Reeves’ first budget was greeted with cautious optimism by Britain’s business leaders, although high taxes on wages held them back from full support. Article writer: Bloomberg News Chloe Millie Published on November 1, 2024 • 4 minutes read You can save…
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Bus fare cap to rise to £3 across England under new budget plan
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The maximum bus fare in England is set to rise to £3, following an announcement by Prime Minister Sir Keir Starmer. The new limit, which will be introduced in the next Budget, represents an increase on the current £2 cap which the previous Conservative government applied as a measure of…
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Jeremy Hunt criticises OBR for timing of review release on budget day
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Former Chancellor Jeremy Hunt has criticized the Office for Budget Responsibility (OBR) for allegedly compromising its political impartiality, as it prepares to release a review that could criticize the Conservative government on Budget Day. The review is expected to address Chancellor Rachel Reeves’ claims of a £22bn financial gap left…
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Treasury short of NIS 30b as budget deadline nears
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After two and a half months, and assuming no further delays, the 2025 state budget will be submitted to the government for approval this Thursday. Although there is little time left, the package of measures presented by Finance Minister Bezalel Smotrich aimed at narrowing the fiscal deficit is still full…
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You’re not ‘working people’, Keir Starmer tells landlords & shareholders as PM draws battle lines signalling major tax hikes in Budget
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Prime Minister Sir Keir Starmer has sparked controversy by suggesting landlords and shareholders do not fall under his definition of “workers” as Labor prepares for one of the biggest tax rises in modern history. As Chancellor Rachel Reeves prepares to unveil her first Budget next week, the government is expected…
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Consumer confidence dips ahead of Labour’s first Budget as concerns over tax rises grow
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UK consumer confidence fell in October, as pessimism about the upcoming Budget outweighed optimism caused by lower inflation, according to the latest GfK Consumer Confidence Index. The index fell by one point to -21, recording its lowest reading since March, and highlighting the challenges the Labor government faces in boosting…
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Over 80% of UK small business owners fear Autumn Budget could harm growth plans
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A new study has revealed that 86% of UK small business owners are concerned that potential tax rises and policy changes in the upcoming Autumn Budget could hinder their growth. Key concerns include potential increases in income tax, VAT and National Insurance, as well as higher costs arising from regulatory…
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Economists and Activists Call on Rachel Reeves to Introduce Wealth Tax in Inaugural Budget
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Chancellor Rachel Reeves is facing renewed calls to introduce a wealth tax, with economists, climate campaigners and high-net-worth individuals urging her to impose a tax on the UK’s wealthiest citizens to help fund essential public services and accelerate the transition to net zero. . In an open letter to the…
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Economists and Activists Call on Rachel Reeves to Introduce Wealth Tax in Inaugural Budget
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Chancellor Rachel Reeves is facing renewed calls to introduce a wealth tax, with economists, climate campaigners and high-net-worth individuals urging her to impose a tax on the UK’s wealthiest citizens to help fund essential public services and accelerate the transition to net zero. . In an open letter to the…
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Reeves collects record £2.2bn from ‘death tax’ ahead of Budget
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Chancellor Rachel Reeves took in a record £2.2 billion in inheritance tax (IHT) receipts in the three months leading up to September, as anticipation grows for potential tax changes in her upcoming first Budget. According to figures from the Office for National Statistics (ONS), inheritance tax brought in £736 million…
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Reeves collects record £2.2bn from ‘death tax’ ahead of Budget
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Chancellor Rachel Reeves took in a record £2.2 billion in inheritance tax (IHT) receipts in the three months leading up to September, as anticipation grows for potential tax changes in her upcoming first Budget. According to figures from the Office for National Statistics (ONS), inheritance tax brought in £736 million…