I’m tired of hearing Republicans claim that we should reduce taxes on corporations because corporate tax cuts create jobs. It’s untrue. Also untrue are the repeated Republican assertions that tax increases on corporations, and regulations requiring corporations to better protect the health and safety of their consumers and workers and the environment, are “job killers.” … Read more
President Yoon Suk Yeol announces the Dynamic Economy Roadmap and the Economic Policy Direction for the latter half of the year at the Blue House in central Seoul on Wednesday. [YONHAP] The government plans to reduce corporate and inheritance taxes for companies in the “value-up program” and more than double the number of foreign … Read more
The EURUSD faces selling pressure in Friday’s European trades due to multiple headwinds. The major currency pair declined to a six-week low near 1.0670 as the Euro weakened after downbeat Eurozone preliminary PMI data suggested the economy is losing momentum. The HCOB PMP report, produced by S&P Global, shows that the Composite PMI unexpectedly declined to … Read more
The top 7.7 per cent of earners in Ireland accounted for more than 54 per cent of the income tax paid to the State in 2021, according to a new report by the Parliamentary Budget Office (PBO).
MTN Group made a total tax contribution of .3 billion (R61.7 bn) across its 19 markets last financial year.
– An objective assessment of the plans is not yet available.
– The coalition wants to increase public spending in the short term, especially in 2025.
– Over a longer time horizon, spending will decrease somewhat.
– The targeted government deficit of 2.8% of GDP increases the likelihood of not remaining within the European 3% deficit norms.
– Budget cuts such as scrapping civil servants and reducing EU contributions seem unrealistic.
– Ad-hoc cuts to budgets may be made on a pro-rata basis if necessary.
– This could lead to political tensions and policy uncertainty.
Turkey announced a savings plan to rein in public spending and boost efficiency. The plan includes pausing new vehicle purchases and rentals, as well as construction of new buildings for three years. Funds allocated for state institutions’ purchases of goods and services will be reduced by 10% and those for investment will be cut by 15%. The number of new public sector personnel will be limited to the level of those retiring. The goal is to strengthen the economic foundations of the country by ensuring fiscal discipline and increasing efficiency in the public sector.