TAX

UK tax cut gamble sends sterling plunging to new 37-year low |  CNN Business

UK tax cut gamble sends sterling plunging to new 37-year low | CNN Business

London CNN Business — A huge bet by the British government aimed at rescuing the economy from recession and boosting long-term growth sent the pound plummeting on Friday. Announcing the biggest tax cuts in 50 years while ramping up spending, Finance Minister Kwasi Kwarteng said the government needed a “new approach for a new era, …

UK tax cut gamble sends sterling plunging to new 37-year low | CNN Business Read More »

Britain bets on historic tax cuts and borrowing, investors get scared

Britain bets on historic tax cuts and borrowing, investors get scared

Join now for FREE unlimited access to Reuters.com Register Kwarteng slashes top income tax rate amid growth momentum Huge increase in UK government debt issuance expected Gilts suffer biggest drop in decades The pound falls to its lowest level in 37 years against the dollar LONDON, Sept 23 (Reuters) – Britain’s new finance minister, Kwasi …

Britain bets on historic tax cuts and borrowing, investors get scared Read More »

UK government offers deep tax cuts as country prepares for recession

UK government offers deep tax cuts as country prepares for recession

British Chancellor Kwasi Kwarteng outside 10 Downing Street. Britain will cap the cost of electricity and gas for businesses. Rob Pinney | Getty Images News | Getty Images LONDON — Britain’s new government announced a sweeping package of tax cuts and investment incentives on Friday, as Prime Minister Liz Truss seeks to boost the country’s …

UK government offers deep tax cuts as country prepares for recession Read More »

England's gas fracking ban lifted in favor of energy independence

England’s gas fracking ban lifted in favor of energy independence

Join now for FREE unlimited access to Reuters.com Register Britain pushes to increase domestic energy supply A moratorium has been in place since 2019 More research is needed to assess the risk of tremors BGS survey indicates challenges remain in predicting impact LONDON, Sept 22 (Reuters) – Britain on Thursday officially lifted a fracking moratorium …

England’s gas fracking ban lifted in favor of energy independence Read More »

EU mulls tax on fossil fuel companies to help consumers survive energy crisis

UK eases pressure on businesses by halving energy bills this winter

Sheep graze under a row of electricity pylons near the port of Ellesmere, Britain October 11, 2021. REUTERS/Phil Noble/ Join now for FREE unlimited access to Reuters.com Register Wholesale electricity and gas bills will be capped from October The level will be less than half of the current market prices Government says deal will prevent …

UK eases pressure on businesses by halving energy bills this winter Read More »

‘Polluters must pay’: UN chief calls for exceptional tax on fossil fuel companies

Countries should impose windfall taxes on fossil fuel companies and divert money to vulnerable countries facing mounting losses from the climate crisis, the UN secretary-general has urged. António Guterres said “polluters must pay” for the growing damage caused by heat waves, floods, drought and other climate impacts, and demanded that it is “high time to …

‘Polluters must pay’: UN chief calls for exceptional tax on fossil fuel companies Read More »

Here's how persistently high inflation could affect your tax bracket next year

Here’s how persistently high inflation could affect your tax bracket next year

Jamie Grill | Getty Images As Americans grapple with soaring prices, experts say it’s likely we’ll see higher-than-usual inflation adjustments from the IRS for 2023 – covering tax brackets, 401(k) plan contribution limits and more. Embedded in the tax code, these annual IRS changes aim to prevent what’s known as “bracket creep,” when inflation drives …

Here’s how persistently high inflation could affect your tax bracket next year Read More »

EU mulls tax on fossil fuel companies to help consumers survive energy crisis

EU mulls tax on fossil fuel companies to help consumers survive energy crisis

Join now for FREE unlimited access to Reuters.com Register BRUSSELS, Sept 12 (Reuters) – Fossil fuel companies may have to share excess profits to help European households and industries cope with searing energy bills, a draft European Union plan said on Monday as the cost of the West’s “energy war”. with Russia has taken an …

EU mulls tax on fossil fuel companies to help consumers survive energy crisis Read More »