UK equities’ support following a Labour victory driven by a temporary boost from easing political uncertainty will be limited as the expectation has already been widely priced-in by the markets. Also, for the UK’s stocks to secure robust growth and regain ground against their global peers, three critical factors must align, said the CEO of … Read more
Analysis: Morningstar DBRS Just a day to the UK general election on 4th July and a change in government looks imminent. The Labour party has continued to lead in the voting intention polls and if polls prove right, Labour will form the next government. After 14 years of a Conservative-led government, a change to Labour … Read more
The deadline for New Jersey lawmakers to pass a budget is June 30 and Democrats, who control the legislature, are in the process of passing their $56.6 billion budget agreement. After an onslaught of tax hikes were bandied about during the budget process, the deal reached by lawmakers and Gov. Murphy includes his proposed corporate … Read more
Rep. Jamaal Bowman and Sen. Bernie Sanders on Friday led a group of progressive lawmakers in announcing legislation that would penalize large corporations with a 95% windfall profits tax for using elevated inflation as a pretext to hike prices and pad their bottom lines. The Ending Corporate Greed Act would “establish a 95% windfall profits … Read more
President Biden is proposing a tax hike on savings, including a 45% tax on capital gains, which would negatively impact retirement savings for millions of Americans. Biden’s proposed tax increases on investment are driven by the government’s addiction to spending, with a proposed federal budget of .3 trillion and .9 trillion in future tax hikes. These taxes will result in lower spending and reduced savings for families, affecting their ability to save for retirement. Biden’s policies are seen as detrimental to individuals and the economy, as they will hinder investment and economic growth.
The International Monetary Fund praised Cyprus for its strong economic performance, commending the country for its substantial primary surpluses, efforts to reduce public debt, quick recovery from the pandemic, and resilience in dealing with external shocks. The IMF recommended measures to further strengthen the economy, including phasing out electricity subsidies and VAT exemptions, and advised against further cost-of-living adjustments to wages. Other recommendations included reforms to the justice system, labor markets, and vigilance regarding systemic risks in the real estate market.
The fact described in the text is that the percentage of children at or below the poverty line in Cyprus reached 18.1 per cent in 2022, equivalent to approximately 31,000 children, according to Eurostat data.
The CEO of a financial advisory firm believes that the Bank of England should start cutting interest rates this summer despite UK inflation data showing mixed signals.
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.
Fact: Prime Minister Sheikh Hasina directed the National Board of Revenue (NBR) not to increase taxes on food, agro-related items, and fertilizers in the upcoming budget.