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....Jeffrey Sachs, the director of the Sustainable Development Solutions Network, which published the report, said President Donald Trump's policies were likely to make things worse. "They are all aimed at increasing inequality - tax cuts at the top, throwing people off the healthcare rolls, cutting Meals on Wheels in order to raise military spending. ... [Read full article on BBC ]
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. Wall Street suffered its worst day this year as investors fretted about whether President Donald Trump will be able to deliver promised tax cuts. ... [Read full article on BBC ]
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.... Others still deliver, just not quite what the market expects, and the shares then lose their buzz. Wall Street has been buzzing because speculators reckon a combination of Trump tax cuts, plus big spending on infrastructure, will pump up the economy. ... [Read full article on Guardian ]
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.... Whether their doubts are vindicated will matter for both the US and the world economy. Donald Trump’s election as US president has triggered a surge in positive economic sentiment, because he pledged that his administration would aggressively pursue the policy trifecta of deregulation, tax cuts and reform, and infrastructure construction. ... [Read full article on Guardian ]
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....For the first few months after his election, Donald Trump was cast by many in the financial markets as the reincarnation of Ronald Reagan. His plans for deep and widespread tax cuts and a bonfire of regulations would, they said, spark a business renaissance akin to that credited to the stetson-wearing president who dominated the 1980s. ... [Read full article on Guardian ]
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....7% fall in the FTSE100 when it opens. Investors view the Trump administration’s struggles to push through its healthcare overhaul through congress as a bad omen for promised tax cuts. ... [Read full article on Guardian ]
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....72. Markets have become increasingly impatient with the new Trump administration for failing to follow through on pledges to use a package of tax cuts and infrastructure spending to raise the US growth rate. ... [Read full article on Guardian ]
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Latest Finance News related to Tax Cut

Nervous markets take fright at prospect of Trump failing to deliver | Larry Elliott image
....72. Markets have become increasingly impatient with the new Trump administration for failing to follow through on pledges to use a package of tax cuts and infrastructure spending to raise the US growth rate. ...
Asian shares drop as investors fear Trump won't deliver on promises image
Source : Guardian [Read Article] Wednesday 22nd of March 2017 06:23:59 AM
....7% fall in the FTSE100 when it opens. Investors view the Trump administration’s struggles to push through its healthcare overhaul through congress as a bad omen for promised tax cuts. ...
Wall Street suffers worst day this year image
Source : BBC [Read Article] Tuesday 21st of March 2017 09:28:57 PM
. Wall Street suffered its worst day this year as investors fretted about whether President Donald Trump will be able to deliver promised tax cuts. ...
Trump must convert surging US confidence into real growth | Mohamed El-Erian image
.... Whether their doubts are vindicated will matter for both the US and the world economy. Donald Trump’s election as US president has triggered a surge in positive economic sentiment, because he pledged that his administration would aggressively pursue the policy trifecta of deregulation, tax cuts and reform, and infrastructure construction. ...
Happiness report: Norway is the happiest place on Earth image
Source : BBC [Read Article] Monday 20th of March 2017 08:43:03 AM
....Jeffrey Sachs, the director of the Sustainable Development Solutions Network, which published the report, said President Donald Trump's policies were likely to make things worse. "They are all aimed at increasing inequality - tax cuts at the top, throwing people off the healthcare rolls, cutting Meals on Wheels in order to raise military spending. ...
The Ronald, the Donald – and a hamstrung Hammond image
Source : Guardian [Read Article] Sunday 19th of March 2017 06:59:01 AM
....For the first few months after his election, Donald Trump was cast by many in the financial markets as the reincarnation of Ronald Reagan. His plans for deep and widespread tax cuts and a bonfire of regulations would, they said, spark a business renaissance akin to that credited to the stetson-wearing president who dominated the 1980s. ...
Netflix and Tesla overrated? Yes, in this mad, mad world image
Source : Guardian [Read Article] Saturday 18th of March 2017 07:01:32 AM
.... Others still deliver, just not quite what the market expects, and the shares then lose their buzz. Wall Street has been buzzing because speculators reckon a combination of Trump tax cuts, plus big spending on infrastructure, will pump up the economy. ...
US interest rate rise signals end of ultra-low borrowing costs image
Source : Guardian [Read Article] Wednesday 15th of March 2017 07:31:25 PM
....The growing differential between US rates and those in Japan, the eurozone and the UK will lead to further support for the dollar unless the American economy shows signs of weakness. With Donald Trump planning tax cuts and spending increases, Wall Street currently sees that as unlikely. ...
US raises benchmark interest rate by 0.25% image
Source : BBC [Read Article] Wednesday 15th of March 2017 06:29:37 PM
.... those would be very welcome changes that we would like to see," she said. Some economists think the next rate hike will be no earlier than June, given that the Fed probably wants time to assess the likelihood that Congress will pass Trump's ambitious program of tax cuts, deregulation and increased spending on infrastructure. ...
US Federal Reserve raises interest rates to 1% in bid to hold off inflation image
....“There isn’t much bleed over into mortgage rates; it’s mostly the short-term borrowers,” he said. Fed policymakers are known to be concerned that the tax cuts and extra government spending Trump has demanded could overheat the economy and lead to a deep recession. ...
Good riddance to the unfair NIC tax rise. Now what about that £2bn black hole? | John McDonnell image
.... Nor did it arrive with an improvement in the benefits and conditions offered to those in self-employment, which remain substantially worse than those in employment. And in the context of the government’s £70bn of tax cuts to corporations and the super-rich, hammering the self-employed was plainly unfair. ...
Q&A: What will happen if the Federal Reserve raises US interest rates? image
Source : Guardian [Read Article] Tuesday 14th of March 2017 07:08:31 PM
....Setting aside concerns about Brexit and a string of potentially destabilising elections on the continent, Fed policymakers have judged that the strength of the economy is enough to override a series of rate rises, possibly taking the base rate to almost 2% by the end of next year. Consumers have embraced the Trump rhetoric of tax cuts and deregulation to continue spending, undeterred by the prospect of higher mortgage costs. ...
Trump is set to win the battle on interest rates, but US economy will pay the price image
....Treasury secretary Steve Mnuchin, like Trump, believes the administration is about to unleash an economic revolution that will spark rocketing growth without the inflationary pressures that spur interest rate rises. Mnuchin’s plans for tax cuts and infrastructure spending, far from increasing inflation alongside growth and forcing the Fed to raise rates further, are supposed to raise productivity, allowing supply to stay in synch with rising demand. ...
US jobs report means Fed rate hike is a bolt-on certainty image
Source : Guardian [Read Article] Friday 10th of March 2017 03:03:04 PM
.... The only weak spot was retailing. The new president has plans for a big package of tax cuts and spending increases but fiscal easing will mean more aggressive tightening from the Fed, which is already starting to fret about the risks of the economy overheating. ...
Trump faces formidable institutional obstacles – so what can he do? | Barry Eichengreen image
....5% to 33%, is entirely consistent with mainstream Republican ideology, according to which high tax rates penalise success and stifle innovation. But, to be politically viable, significant tax cuts for the wealthy would have to be accompanied by at least token tax cuts for the middle class. ...
Budget tax rise image
Source : BBC [Read Article] Thursday 9th of March 2017 01:40:23 PM
....In March last year, the chancellor at the time, George Osborne, confirmed that Class 2 contributions would be abolished in April 2018. In other words, that means a tax cut of £146 a year for anyone who is self-employed and making profits of more than £5,965 a year. ...
Trump's border tax could damage the US a lot more than a wall | Kenneth Rogoff image
....As the University of California at Berkeley’s Alan Auerbach first pointed out, the border tax adjustment is a way to push back on under- and over-invoicing in a high-tax jurisdiction such as the US. So, all in all, even if a border adjustment tax does not directly make US goods more competitive, it is an efficient way to raise revenues, potentially making room for other tax cuts. ...
Philip Hammond keeps his powder dry with a 'boring' budget | Larry Elliott image
.... Instead, there was a focus on structural reforms to tackle two long-standing weaknesses: productivity and technical education. Given the government’s commanding lead in the opinion polls, only pronounced weakness in the economy would have forced Hammond to provide a major fiscal boost through tax cuts and spending increases. ...
Budget 2017: £2bn for social care and tax rise for self-employed image
Budget 2017: BBC editors make their predictions image
Source : BBC [Read Article] Tuesday 7th of March 2017 11:35:23 AM
....As the UK heads towards Brexit, government finances look in unexpectedly good shape. But does that give the chancellor room for tax cuts or spending increases?. ...
Greece desperate for growth strategy as public mood darkens image
Source : Guardian [Read Article] Sunday 5th of March 2017 04:54:18 PM
.... Last week, the Cologne Institute for Economic Research said poverty in thrice-bailed out Greece had jumped 40% between 2008 and 2015, by far the biggest leap of any European country. Tsipras has been told he will have to enforce labour market reforms and further pension and income tax cuts if Greece is to realistically achieve a primary surplus of 3. ...
Budget 2017: No 'spending sprees', Hammond warns image
Source : BBC [Read Article] Sunday 5th of March 2017 02:20:28 AM
....Also on the Marr show was Labour shadow chancellor John McDonnell, who said the National Living Wage should be increased to give workers a "pay rise". He said this, along with reversing changes to disability benefits and a cash injection for the NHS, could be funded by reversing £70bn in corporation, capital gains and inheritance tax cuts. ...
Sorry, Brexit doomsayers, the outlook is good on global growth image
Source : Guardian [Read Article] Saturday 4th of March 2017 05:00:20 PM
....They are betting that far-right groups in Europe will lose out to centre-right groupings and that the financial problems in Greece are ring-fenced; that the Chinese communist party will retain its grip on the economy to keep things moving forward; and that Russia will consider it too risky to encroach further into Ukraine. They also take a generous view of Donald Trump’s plans for tax cuts and infrastructure spending while dismissing his tub-thumping demands for a wall with Mexico and a trade war with almost anyone who wants to have a fight over tariffs. ...
More than half of new-build homes 'have major faults', plus the best city cycle schemes image
....Hello and welcome to this week’s Money Talks – a roundup of the week’s biggest stories and some things you may have missed. Tory £1bn inheritance tax cut ‘will worsen north-south divide’. ...
Donald Trump has made rookie mistakes – he must change his approach image
Source : Guardian [Read Article] Thursday 2nd of March 2017 08:59:39 AM
.... Jimmy Carter tried, but immediately ran afoul of his party’s leadership in Congress – and subsequently struggled to get anything accomplished. For example, Congress turned his proposed tax cut for dividends into one for capital gains. ...
Wall Street stocks rise after Trump's corporate tax cut promises image
Source : Guardian [Read Article] Wednesday 1st of March 2017 06:42:20 PM
. President Donald Trump has helped drive up stock markets on Wall Street and in London to new highs, after he promised corporate tax cuts and a spending splurge on infrastructure projects to boost the economy. ...
FTSE 100 closes at new record high image
Source : BBC [Read Article] Wednesday 1st of March 2017 09:19:22 AM
Top Republican says Trump's budget plan 'dead on arrival' image
Source : BBC [Read Article] Tuesday 28th of February 2017 11:09:20 PM
.... . Top-line items like tax cuts and healthcare reform will be heavy legislative lifts with a baulky conservative caucus in the House and a narrow Republican majority in the Senate, requiring presidential leadership of a kind not yet demonstrated by Mr Trump. ...
Tory £1bn inheritance tax cut 'will worsen north-south divide' image
Source : Guardian [Read Article] Tuesday 28th of February 2017 07:20:48 PM
. A £1bn Conservative inheritance tax cut will exacerbate the north-south divide, an MP has warned, as figures lay bare the winners and losers of a flagship government policy. ...
Spring budget 2017: drop in government borrowing predicted image
Source : Guardian [Read Article] Tuesday 28th of February 2017 12:01:13 AM
.... It urges him to make it easier for firms to invest and to give them more reassurances about access to migrant workers after Brexit. It also urged the chancellor to rethink planned tax cuts and address Britain’s regional, generational and income divides. ...
Austerity anguish image
Source : BBC [Read Article] Sunday 26th of February 2017 01:54:38 AM
.... . They intend to push for a different framework for negotiations with their creditors where in future on direct concessions on pension reform would be balanced out by, for example, a possible tax cut. ...
Blair is right on Brexit: parliament must have a democratic debate | Anatole Kaletsky image
.... Because the leave campaign successfully combined a multitude of different grievances, May now claims the referendum as an open-ended mandate. Instead of arguing for controversial Conservative policies – including corporate tax cuts, deregulation, unpopular infrastructure projects and social security reforms – on their merits, May now portrays such policies as necessary conditions for a “successful Brexit”. ...
Trump's Treasury Secretary targets tax reform 'by August' image
Source : BBC [Read Article] Thursday 23rd of February 2017 05:37:58 PM
....In his first television interview, since taking office Mr Mnuchin told CNBC his priority was boosting growth. Mr Mnuchin said that tax cuts combined with deregulation would boost economic growth to 3% by the end of 2018. ...
Donald Trump, the master of unreality, must be resisted at every turn | Joseph Stiglitz image
.... Indeed US corporate leaders and investors have collectively become Trump’s enablers. At this year’s World Economic Forum meeting in Davos, many salivated over his promises of tax cuts and deregulation, while eagerly ignoring his bigotry – not mentioning it in a single meeting that I attended – and protectionism. ...
Is Finland’s basic universal income a solution to automation, fewer jobs and lower wages? image
.... American libertarians such as Charles Murray have long argued that a basic income could be used to do away with the welfare state altogether. In Britain, the way in which Conservative chancellors have steadily delivered tax cuts that disproportionately help more affluent families, while cutting the means-tested benefits relied on by those in the greatest financial need, should sound a note of caution. ...
A stock market crash is a way off, but this boom will turn to bust | Larry Elliott image
.... Hints from the Federal Reserve that it is contemplating another increase in US interest rates? An expression of confidence by America’s central bank in the health of the world’s biggest economy. Wall Street is also salivating at the prospect of nice fat tax cuts from Trump. ...
Trump presidency poses threat to global economy, warns Fitch image
Source : Guardian [Read Article] Friday 10th of February 2017 04:37:52 PM
....“The materialisation of these risks would provide an unfavourable backdrop for economic growth, putting pressure on public finances that may have rating implications for some sovereigns,” the ratings agency added. It joined other commentators in predicting a possible boost to economic growth from Trump’s planned infrastructure spending, his plans to cut red tape and promised tax cuts. ...
Devil-may-care investors fall under spell of Trump-mania image
Source : Guardian [Read Article] Thursday 9th of February 2017 02:31:01 PM
....Another big bet is on a Trump-inspired spending spree by Congress on all manner of infrastructure projects, including the Mexican wall and on the military. This bet gets a steroid boost when traders add in the impact of huge tax cuts, albeit for the richest, trade tariffs on imports (protecting smaller US firms from competition) and a supposedly benign form of blackmail targeting major corporations that consider opening factories abroad (forcing them to locate inside the US). ...
Trump’s honeymoon with the stock market will soon be over | Nouriel Roubini image
.... This traditional Republican embrace of trickle-down supply-side economics will mostly favour corporations and wealthy individuals, while doing almost nothing to create jobs or raise blue-collar workers’ incomes. According to the non-partisan Tax Policy Center, almost half of the benefits from Trump’s proposed tax cuts would go to the top 1% of income earners. ...
US jobs growth in January is strongest since June, report finds image
Source : Guardian [Read Article] Wednesday 1st of February 2017 03:47:20 PM
....The economy has not grown at a healthy pace of 3% or more since 2005. Trump has pledged to lift growth to 4% and accelerate job creation, through tax cuts, deregulation and greater spending on infrastructure. ...
Wall Street suffers worst day in months following Trump travel ban image
Source : Guardian [Read Article] Monday 30th of January 2017 06:26:31 PM
....”. US equities hit record highs following Trump’s election in November, encouraged by his promise of tax cuts and simpler regulations. ...
Final US growth figures under Obama are a triumph – for Trump  | Larry Elliott image
.... But, again, the latest data fits with Trump’s narrative that more needs to be done to repatriate production and limit imports. The second reason Trump should count his blessings is that he will get the credit when the economy starts to grow more quickly this year, as it would even without the tax cuts and infrastructure spending he plans. ...
Strong dollar drags US growth to slowest pace since 2011 image
Source : Guardian [Read Article] Friday 27th of January 2017 02:15:35 PM
.... Trump and his treasury secretary, Steve Mnuchin, have insisted that the US economy can expand at a faster rate than under the Obama administration. Mnuchin, a former financier at Goldman Sachs, said last year after his nomination that GDP growth of 4% would be achievable once Congress implemented a series of tax cuts and spending plans put forward by Trump. ...
Dow Jones hits record high – is Trump good for stock markets? image
Source : Guardian [Read Article] Wednesday 25th of January 2017 03:18:04 PM
. Will Donald Trump as president be good or bad for stock markets? Should investors run for the hills in fear of 1930s-style protectionist policies that may damage global trade? Or should they hang around to enjoy the possible fruits of promised tax cuts and massive infrastructure spending in the US?. ...
Trump didn’t kill TPP, the people did | Owen Jones image
Source : Guardian [Read Article] Tuesday 24th of January 2017 09:39:47 AM
.... Trump may oppose treaties like TPP, but he blends xenophobia with the promotion of a low-wage, insecure economy. A programme of investing in US infrastructure may provide a much-needed short-term boost to the US economy, but combined with tax cuts for wealthy Americans and big business, Trumpism represents a grave economic danger. ...
The Guardian view on industrial strategy: hot air but no liftoff | Editorial image
....But most worrying is the evidence that Theresa May is unwilling to confront the faction of her party that is most hostile to state activism, which happens to also be the faction pushing for the severest rupture from the European Union. It does not bode well, for example, that Mrs May is prepared to threaten that Britain will seek to undercut European neighbours with corporate tax cuts and minimal regulation as part of its Brexit negotiation strategy. ...
Globalisation once made the world go around. Is it about to grind to a halt? image
....”. Christine Lagarde, managing director of the International Monetary Fund, said that if Trump went ahead with his trade agenda, it would undo all the growth benefits from his tax cuts and infrastructure spending – and then some. ...
The Trump effect has rallied US markets – but it's based on illusion | Robert Shiller image
.... If he ever reveals his financial information, or if his family is able to use his influence as president to improve its bottom line, he might even prove to be successful in business. The closest we can come to Trump among former US presidents might be Calvin Coolidge, an extremely pro-business tax cutter. ...
Middle classes in crisis, IMF's Christine Lagarde tells Davos 2017 image
Source : Guardian [Read Article] Wednesday 18th of January 2017 11:51:21 AM
....Summers was dismissive of the policies proposed by Trump, saying that the lesson of history was that populism ended up harming the people it was supposed to help. He said tax cuts would benefit the already super-rich and the small number of jobs relocated to the US by presidential strong-arming of corporations would be dwarfed by the jobs losses caused by the rise in the value of the dollar. ...
Trump is a conservative – but that won't stop him sending deficits soaring image
....In the early 2000s, another Republican president, George W Bush, essentially followed Reagan’s playbook, again slashing taxes and sending deficits soaring. In 2012, at the height of the standoff between the Republican-controlled Congress and Democratic president Barack Obama over deficits and the national debt, Republican presidential candidate Mitt Romney proffered an economic plan that featured eye-popping deficits to finance tax cuts and higher military spending. ...
Are Americans more ready to accept inequality? image
Source : Guardian [Read Article] Wednesday 11th of January 2017 08:40:39 AM
. As Donald Trump prepares to move into the White House, you may still be wondering how the billionaire Republican managed to win the US election while simultaneously promising tax cuts for the richest and claiming to be on the side of workers. ...
Trump and Brexit put global economic growth at risk, World Bank says image
Source : Guardian [Read Article] Tuesday 10th of January 2017 09:00:00 PM
....7% in 2015. The Bank said it expected a return to that level in 2017, adding that the tax cuts and public investment Trump has promised might result in faster growth. ...
Generations at war image
Source : BBC [Read Article] Tuesday 10th of January 2017 12:14:35 AM
.... . And are those parents, mostly baby boomers who benefited from economic good times, tax cuts and free higher education to blame? . ...
My new year forecast: Trumpian uncertainty, and lots of it image
Source : Guardian [Read Article] Monday 9th of January 2017 11:59:13 AM
.... Will it be the US, where ordinary citizens have already suffered for so long, or China, which, despite troubled times, has managed to generate growth in excess of 6%?. More broadly, the Republican/Trump agenda, with its tax cuts even more weighted towards the rich than the standard GOP recipe would imply, is based on the idea of trickle-down prosperity – a continuation of the Reagan era’s supply-side economics, which never actually worked. ...
US jobs growth slows to 156,000 during December image
Source : BBC [Read Article] Friday 6th of January 2017 02:39:54 PM
....Mr Trump has promised to cut tax both for individuals and for businesses, as well as invest in national infrastructure. The US Federal Reserve indicated in the minutes from its last rate-setting meeting in December that it may have to raise interest rates at a quicker pace if Congress passes Mr Trump's tax cuts. ...
Shops 'face perfect storm of rising costs and falling spending' image
Source : Guardian [Read Article] Monday 2nd of January 2017 05:57:34 PM
....The revaluation of business rates is expected to result in a sharp increase in tax payments for shops in central London, supermarkets, and shopping centres. However, struggling town centres, especially in the north and west of the country, should enjoy a much-needed tax cut. ...
That was 2016... now what image
Source : BBC [Read Article] Friday 30th of December 2016 04:53:44 PM
.... . Since Donald Trump won the US Presidential election markets have thought there might be more inflation coming as he seeks to boost the economy with tax cuts and perhaps spending on infrastructure. ...
Computer error blamed for HMRC blunder in Scotland image
Source : Guardian [Read Article] Monday 19th of December 2016 06:54:44 PM
....The report also identifies the risk of tax avoidance and evasion if there are differences in tax rates or thresholds between Scotland and the rest of the UK. Scotland’s finance secretary, Derek Mackay, confirmed in his draft budget last week that he would not replicate the UK Treasury’s tax cut for higher earners, meaning that the 40% threshold would only rise by inflation, to £43,430 in Scotland, while it will start at £45,000 in the rest of the UK. ...
What the US economy doesn't need from Donald Trump | Joseph Stiglitz image
Source : Guardian [Read Article] Monday 19th of December 2016 11:19:56 AM
.... And, like Bush, Trump is yet another Republican president who will assume office despite losing the popular vote, only to pretend that he has a mandate to undertake extremist policies. The only way Trump will square his promises of higher infrastructure and defence spending with large tax cuts and deficit reduction is a heavy dose of what used to be called voodoo economics. ...
The Fox-Sky row isn’t going away, no matter how much ministers ignore it image
Source : Guardian [Read Article] Sunday 18th of December 2016 06:59:44 AM
.... But investors need to be wary. Most of the fiscal boost is going to come through tax cuts, which will inject both demand and inflation into an economy already running up against capacity constraints. ...
Will it be a happy new year for your investment funds? image
Source : Guardian [Read Article] Saturday 17th of December 2016 07:00:15 AM
.... Emerging economies may have more to fear, especially in light of Trump’s calls for 45% trade tariffs on Chinese goods, but even here there is hope, given over half of all Asian trade is done in the region. “Trump’s plans to use tax cuts and increases in infrastructure spending to boost the US economy seems to be sending a clear signal that government fiscal stimulus and not central bank monetary policy should do the heavy lifting to galvanise the economy. ...
UK interest rates are going nowhere in 2017 image
Source : Guardian [Read Article] Thursday 15th of December 2016 01:22:56 PM
....As far as central banks go, the Fed is an outlier. Growth and inflation are both picking up and the US president-elect, Donald Trump, is planning tax cuts and extra spending on infrastructure. ...
US dollar surges to 14-year high as Fed hints at three rate hikes in 2017 image
Source : Guardian [Read Article] Thursday 15th of December 2016 06:08:33 AM
....9289 yuan per dollar. The Fed stance came as US president-elect Donald Trump has promised to boost growth through tax cuts, spending and deregulation. ...
Mackay to set out Scottish government budget plans image
Source : BBC [Read Article] Thursday 15th of December 2016 12:01:59 AM
.... However there is not yet any consensus on tax at Holyrood, with a vote on Wednesday ending in stalemate. This is the first Scottish budget since Holyrood took on a series of new tax powers from Westminster, with the SNP already pledging not to replicate a tax cut for higher earners proposed by the UK government. ...
US raises key interest rate by 0.25% on strengthening economy image
Source : BBC [Read Article] Wednesday 14th of December 2016 07:42:46 PM
....However, the new Donald Trump administration could mean rates having to rise at a faster pace next year, she signalled at a news conference after the announcement. The president-elect has promised policies to boost growth through tax cuts, spending and deregulation. ...
Donald Trump has a handy scapegoat when economic clouds appear image
Source : Guardian [Read Article] Sunday 11th of December 2016 07:00:21 AM
.... The former Goldman Sachs deal-maker also wants to tear up business regulations to spur growth of 3% to 4%, year in, year out. If the consumer confidence figures are anything to go by, a burst of high-street spending will trigger a mini-boom, with the tax cuts kicking in later in the year to keep the momentum going into 2018. ...
Wall Street: Dow Jones and S&P 500 hit fresh records image
Source : BBC [Read Article] Wednesday 7th of December 2016 10:45:10 PM
....7. "Visions of tax cuts and stronger economic growth are dancing in traders' heads," said US analyst Patrick O'Hare. ...
Will Trump herald a US economic boom? image
Source : Guardian [Read Article] Wednesday 7th of December 2016 11:57:31 AM
.... High-return projects pay for themselves. Far more controversial is Trump’s plan for a massive across-the-board income tax cut that disproportionately benefits the rich. ...
Australian GDP: economy shrinks by 0.5% in September quarter image
Source : Guardian [Read Article] Wednesday 7th of December 2016 02:00:59 AM
....Economists say it is now more consistent with the softening in the labour market that has occurred since the start of the year. The treasurer, Scott Morrison, in a hastily convened media conference, said Labor must now support the government’s $48bn tax cut plan because the economy needed it. ...
HSBC raises mortgage rates and pulls 'cheapest-ever' fix image
Source : Guardian [Read Article] Tuesday 6th of December 2016 01:35:57 PM
....But more recently swap rates – what the banks pay to borrow from one other, which play a large part in determining the pricing of fixed-rate mortgages – have increased sharply, a trend which accelerated in the days following Trump’s win. Economists believe the president-elect’s promises of tax cuts and a $550bn boost to infrastructure spending will force the Federal Reserve, the US central bank, to raise interest rates more rapidly than had been expected. ...
Diesel farms make fresh bids to supply National Grid back-up power image
Source : Guardian [Read Article] Tuesday 6th of December 2016 08:25:42 AM
.... One reason Rockpool is so keen on diesel farms is that any set up before November 2015 are eligible for a tax break through the Enterprise Investment Scheme (EIS). The scheme offers an income tax cut worth 30% of the investment, as well as reductions in Capital Gains Tax. ...
Boeing tax break ruled unlawful by WTO image
Source : BBC [Read Article] Monday 28th of November 2016 04:31:55 PM
....The World Trade Organization (WTO) made the order after investigating a complaint from the European Union. The tax cut was provided by the state of Washington in 2013 to ensure that wings for Boeing's new 777X jetliner were made only there. ...
10 economic consequences of Donald Trump's election win image
Source : Guardian [Read Article] Monday 28th of November 2016 01:18:08 PM
....Second, sensible tax reforms, such as an amnesty for multinational companies that repatriate foreign profits, will finally become law. The Republicans’ hegemony will enable easy agreement on tax cuts financed mainly by higher public borrowing, rather than by facing down special interest lobbies’ resistance to the elimination of exemptions and loopholes. ...
Protectionism and trade disputes threaten world growth, says OECD image
Source : Guardian [Read Article] Monday 28th of November 2016 10:00:26 AM
....A new wave of protectionism and trade tensions risks denting global growth, stoking inflation and harming living standards, the west’s leading economic thinktank has warned in its first in-depth forecasts since Donald Trump won the US election on an anti-globalisation platform. The Paris-based Organisation for Economic Co-operation and Development (OECD) said it was optimistic that expected spending measures and tax cuts under the new US administration would boost growth there and in other countries. ...
World trade hangs in the balance as Trump prepares plan of action image
Source : Guardian [Read Article] Saturday 26th of November 2016 04:00:35 PM
....Noland says Trump’s first term could still be scarred by battles with China. “Let’s say the president wins approval from the Republican-dominated Congress for a large fiscal stimulus with a mixture of tax cuts and infrastructure spending. ...
IFS warns of biggest squeeze on pay for 70 years over Brexit image
Source : Guardian [Read Article] Thursday 24th of November 2016 01:26:14 PM
....The government has also faced criticism for presenting a partial reversal of planned cuts to universal credit as a boost to working households when in reality the giveaways will be more than offset by other cuts announced in 2015. Hammond said in his autumn statement that 3m households would be better off as as result of changes to universal credit, which he described as a “targeted tax cut worth £700m from 2021-22”. ...

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