The Prime Minister dismissed claims from Labour that his dramatic pledge to spend an extra £75 billion on defence by the end of the decade was not fully funded.
The wealth tax will raise nearly $20 billion Canadian (U.S. $14.5 billion) in revenue over five years.
The budget for 2025-2028 will see the country's general rate of Value Added Tax (VAT) increase to 25.5 percent from the current level of 24 percent, with cuts to education and healthcare also in the pipeline.
UK Prime Minister Rishi Sunak Tuesday announced additional funding for Ukraine and pledged to increase Britain's own defence budget, during a visit to the Polish capital Warsaw.Sunak said Britain was giving GBP500 million ($617 million) in additional military funding for Kyiv as he held talks with Polish premier Donald Tusk and NATO chief Jens Stoltenberg.Sunak said London would gradually boost defence spending to 2.5 percent of GDP by 2030."In a world that is the most dangerous it has been...
PM pledges to put arms industry on ‘war footing’ with plan to raise defence budget to £87bn a year by 2030Britain will boost its defence spending to 2.5% of national output by the end of the decade as Rishi Sunak pledged to put the UK’s arms industry on a “war footing” in response to global threats.The prime minister’s plan, which he said would help the UK deal with an “increasingly dangerous” world, would steadily increase defence spending to £87bn a year by 2030. Continue reading
Government borrowing for the year was £6.6bn higher than expected, according to new figures.
Students will no longer receive general housing benefits, high-earners and pensioners will pay more tax and VAT will increase by 1.5 percentage points.
OTTAWA - Bank of Canada governor Tiff Macklem says central banks will make monetary policy decisions geared toward their own economies, which means some countries may begin cutting interest rates before others. Macklem made the comments while speaking to reporters on the sidelines of International Monetary Fund meetings in Washington, D.C. Friday. “We've all been resolute in our commitment to restore price stability, and we've matched those words with action that has helped us all bring...
Brazil, Germany, Spain and South Africa sign motion for fairer tax system to deliver £250bn a year extra to fight poverty and climate crisis‘Why we need a global tax on billionaires’The world’s 3,000 billionaires should pay a minimum 2% tax on their fast-growing wealth to raise £250bn a year for the global fight against poverty, inequality and global heating, ministers from four leading economies have suggested.In a sign of growing international support for a levy on the super-rich, Brazil,...
German Finance Minister Christian Lindner rejected on Thursday Brazil's proposal to tax the super-rich, indicating a challenging path for it to gain widespread G20 support. "We do not think it is suitable," he said at a press conference alongside Bundesbank President Joachim Nagel in Washington. Brazil, heading the presidency of the Group of Twenty (G20), is aiming to build international consensus on the taxation of wealth this year, and is pushing for a joint declaration at a meeting of G20...
PAINTED POST, N.Y. (WETM) - The Corning-Painted Post Area School District unveiled its 2024-2025 budget proposal on Wednesday night. On May 21st, residents will vote on a budget that calls for raising the property tax rate from 3.89% to 4.97% to avoid any cuts to jobs or programs. The alternative is lowering the tax rate []
Finance Minister Chrystia Freeland’s fourth budget delivers a big-ticket housing program for millennials and Generation Z voters — a multi-billion dollar commitment to be paid for in part with a tax hike on the rich and corporate Canada.