Category: Treasury
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Bitcoin Advocate Top Pick For Trump’s Treasury Secretary
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Billionaire hedge fund manager Scott Bescent is reportedly positioning himself as a leading candidate for Treasury Secretary under Donald Trump’s administration. Matthew Baines, director of SentinelOne and national security fellow at the Bitcoin Policy Institute, shared an article from the Financial Times on X, highlighting Bessent’s ambitions. Trump’s Treasury Secretary…
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Bitcoin Advocate Top Pick For Trump’s Treasury Secretary
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Billionaire hedge fund manager Scott Bescent is reportedly positioning himself as a leading candidate for Treasury Secretary under Donald Trump’s administration. Matthew Baines, director of SentinelOne and national security fellow at the Bitcoin Policy Institute, shared an article from the Financial Times on X, highlighting Bessent’s ambitions. Trump’s Treasury Secretary…
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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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Regev strikes deal with Treasury on congestion charge
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Disagreements between Transportation Minister Miri Regev and Finance Minister Bezalel Smotrich tend to arise when they come to negotiate the state budget. In the government meeting on the budget last week, they exchanged blows over the decision to raise public transportation tariffs, but in closed negotiating rooms they actually reached…
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Regev strikes deal with Treasury on congestion charge
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Disagreements between Transportation Minister Miri Regev and Finance Minister Bezalel Smotrich tend to arise when they come to negotiate the state budget. In the government meeting on the budget last week, they exchanged blows over the decision to raise public transportation tariffs, but in closed negotiating rooms they actually reached…
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How banks are taking CBK loans to invest in Treasury bills
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Commercial banks borrowed from the Central Bank of Kenya’s emergency discount window to finance purchases of government securities as they saw a profit opportunity from the lower interest rate on the facilities compared to treasury bonds. The discount window was supposed to be used to provide temporary liquidity to banks…
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Treasury revives plans to tax popular infrastructure bonds
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National Treasury has revived plans to impose a 5% withholding tax on interest earned on infrastructure bonds with maturities of at least three years. Infrastructure bonds (IFBs) have been tax-free since they were first issued in February 2009 – meaning they will be subject to tax for the first time…
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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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Treasury eyes automation, fleet tracking in fuel cost cut push
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Government-owned vehicles will only be refueled using automated tag systems and will remain monitored through digital tracking devices in changes proposed by National Treasury aimed at reducing operating costs. The proposal will see the centralization and automation of fuel programs for all government fleets to reduce waste. “By tracking and…
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Treasury targets civil service budget pensions, immigrants
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The list of measures planned by the Israeli Ministry of Finance as part of the 2025 budget goes on. In the latest draft of the planned measures published by the Ministry of Finance, it added a new imposition on employees who are supposed to receive the civil service budget pension,…
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Treasury plans higher tax on Israel’s wealthiest
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As part of its plans to manage the fiscal deficit in 2025, the Ministry of Finance proposes to increase the additional tax on passive income such as interest. The Ministry proposes to raise the additional tax from its current rate of 3% to 5%, and expand it to include those…
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US 10-year treasury yields back above 4%
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10-year Treasury yields were back above 4% in early trading Monday. US10Y is back above 4 percent It’s been a bit of a perfect storm for bonds: Inflation expectations rise as oil prices rise Better than expected US data combats recession fears (this should not be a fear but anyway)…
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Treasury boss declines US envoy job amid Adani deals
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Americans know him as the Deputy Chief of Mission at the Kenyan Embassy in Washington, DC. But Kenyans know him as the Director-General of Public-Private Partnerships (PPP) at the Treasury and the main explainer of the controversial deal in which Indian billionaire Gautam Adani wants to manage and develop the…
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National Insurance on employer pension contributions could raise billions for Treasury coffers
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The introduction of national insurance on employer contributions to pensions could generate billions for the Treasury, according to Sir Steve Webb, the former pensions minister. Webb, now a partner at LCP, points out that this reform could raise up to £16bn net a year and could be the most likely…
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Treasury seeks to curb pension tax benefit
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The Ministry of Finance has introduced a series of radical measures aimed at reducing the fiscal deficit to 4% next year. Among these measures is the imposition of taxes on advanced training funds, which until now have mainly been a tax-free savings program. The Ministry stated in its explanation of…
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Treasury unveils new taxes worth NIS 40b for 2025 budget
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The Finance Ministry today unveiled sweeping measures including NIS 35-40 billion in cuts to reduce Israel’s ballooning fiscal deficit to 4% in 2025. The measures were unveiled in the Tax Bill and the Anti-Dark Capital Bill, part of the Economic Arrangements Bill, which will accompany the 2025 budget. The measures…
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Treasury plans tax on banks and Ashdod Port privatization
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The draft economic arrangements law, which will be attached to the 2025 budget, outlines the reforms that the Finance Ministry intends to implement next year. The draft law includes important measures in the areas of finance, real estate, state-owned companies, and others. The draft does not include any new taxes…
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Treasury CS John Mbadi headed for clash with MPs over tax waiver powers
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The National Treasury wants the Cabinet Secretary to have the final say on waiving hard-to-collect taxes in an amendment likely to put Treasury and Parliament on a collision course. Treasury Secretary John Mbadi sought to amend the Tax Procedures Act by introducing a new section that would give him sweeping…