Bank of England to cut rates in August but June a very close call
The Bank of England is expected to start bringing down interest rates in August, with a majority of economists predicting a rate cut next month.
pandemic
Here’s what the economy could look like with a Biden or Trump presidency
The text discusses the potential impact of a Biden or Trump presidency on the US economy. The analysis covers eight major economic categories, including domestic manufacturing, higher education, healthcare, housing, labor, taxes, tariffs, and trade. Biden and Trump have different plans and approaches to these economic categories based on their past records as president and their campaign promises. Biden focuses on issues like lowering prescription drug costs, investing in the future, supporting workers and small businesses, and ensuring fair taxation. Trump, on the other hand, has proposed plans such as protecting American car manufacturers, imposing tariffs on foreign-made cars, and focusing on fossil fuels. The text also highlights the differences in their views on student loan debt, healthcare, housing costs, labor unions, taxes, tariffs, and trade policies.
EU excess profit tax could generate over €100 billion per year, study finds
Fact: A permanent tax on European companies’ excess profits could generate more than €100 billion per year, or over half of the EU’s annual budget.
New platform in the works to monitor hospital infections
The government plans to launch an electronic platform to monitor healthcare-associated infections. The current methods of monitoring infections in Cyprus are not thorough enough, and the new platform will help hospitals carry out surveillance electronically so the data can be monitored by the health ministry. Cyprus has the highest rate of healthcare-associated infections in the EU and EEA, as well as the highest rate of antimicrobial use.
Rising food costs leave hungry Americans $33 billion behind, report says
Hungry people in the U.S. faced a .1 billion shortfall in funds for basic food needs in 2022, with nearly half of them not qualifying for aid. This was the highest shortfall in 20 years due to higher food prices. Hunger rose in 2022 amid high food price inflation and the end of federal financial support and expanded food aid programs during the COVID-19 pandemic. Nearly half of food-insecure people may not qualify for the Supplemental Nutrition Assistance Program. Congress has expanded funding for a key nutrition program serving mothers and young children to address the issue.
Fearing layoffs amid budget crisis, Oakland’s unions put blame on unpaid business taxes
Fact: Oakland is facing a 7 million deficit, leading to potential budget cuts and layoffs for public employees.
Relocating as a digital nomad in 2024: top-5 countries of choice by Immigrant Invest
Fact: Remote work has gained popularity in recent years, leading to the creation of Digital Nomad Visas in various countries.
Business tax incentives, tax reform top of budget wishlist
Accounting firms and associations are emphasizing the importance of addressing the rising cost of business and undertaking tax reform ahead of the federal budget release. RSM Australia is advocating for the permanent incorporation of business loss carry back offset rules into Australia’s income tax regime to encourage investment and bolster business resilience.
How Did the TCJA Affect Corporate Tax Revenues?
Fact: The 2017 Tax Cuts and Jobs Act (TCJA) lowered the top corporate tax rate from 35 to 21 percent, leading to a sharp drop in corporate tax revenues initially, but they returned to pre-TCJA levels starting in 2021.
UK employers plan 4 per cent pay rises in coming year
British employers expect to raise wages by 4 per cent over the coming 12 months, according to a survey by the Chartered Institute of Personnel and Development.