Former Cabinet Minister Condemns Tax Cuts for the Rich

a A former Conservative cabinet minister called the government’s mini-budget announcing tax cuts for the wealthy a “mistake”. Former Northern Ireland Minister Julian Smith has attacked measures that include scrapping the highest tax rate of 45 pence. The MP for Skipton and Ripon tweeted: “In a statement with so many positive actions for businesses, this … Read more

Mini-budget: When will the National Insurance increase be reversed?

The 1.25 percent increase in National Insurance, announced by his predecessor, Rishi Sunak, to help fund health and social care, will be scrapped from November 6. The chancellor said scrapping the increase would cut taxes on 920,000 businesses by nearly £10,000 on average next year, because it would not pay a higher level of national … Read more

Kwasi Kwarteng cuts income tax for high income earners in small budget

Kwasi Kwarteng has announced a surprise income tax cut for the high-income earners in the country. The new chancellor has revealed that the higher income tax rate of 45 per cent will be ‘eliminated’. From April 2023, the state will instead impose a higher income tax rate of 40 percent. Quarting argued that this would … Read more

Lifting ban on gas fracking in England under pressure for energy independence

Register now to get free unlimited access to Reuters.com Register Britain pushes for more domestic energy supplies The moratorium has been in effect since 2019 More research is needed to assess the risk of tremor BGS survey says challenges remain to anticipate impact LONDON (Reuters) – Britain on Thursday formally lifted a moratorium on shale … Read more

Laid-off workers face £7,500 ‘disguise tax’

Tens of thousands of laid-off workers are forced to pay a ‘hidden tax’ of up to £7,500 on their payments due to an unknown Revenue and Customs rule from HM. About 51,000 people paid income tax on their surplus salaries in 2017-18, the latest tax year for which data is available, generating nearly £380m for … Read more

Australian employers have warned they cannot ignore older workers amid skill shortages

Diane Roberts has been looking for a job for seven years and believes age is her biggest obstacle. the main points: More than 170,000 senior Australians are keen to return to the workforce This number is set to grow amid an aging population Employers were asked to embrace workers in their 70s and 80s “He. … Read more

Michael Sugar warns Labor government against raising taxes on RBA Governor Philip Lowe’s comments

Leading Liberal candidate Michael Sugar has warned Treasury Secretary Jim Chalmers against heeding Reserve Bank Governor Philip Lowe’s advice to raise taxes this term. On Friday, the governor of the Reserve Bank of Australia indicated the urgent need to increase government revenue, suggesting tax cuts to hire workers in the near future. Labor has repeatedly … Read more

Britain has its first black chancellor – but does nothing – Politico

Click play to listen to this article LONDON – Britain has its first black chancellor. And in the contemporary Conservative Party, that doesn’t really matter. In one of her first acts as British Prime Minister, Liz Truss chose her longtime friend and close friend Kwasi Quarting to run the UK’s public finances. Kwarteng MP since … Read more

Liz Truss is Britain’s new Prime Minister – Politico

LONDON – Queen Elizabeth has appointed Liz Truss as the new Prime Minister of the United Kingdom. His predecessor Boris Johnson tendered his resignation at Balmoral Castle earlier on Tuesday morning before Truss, the former foreign secretary, was invited to form a government by the 96-year-old king. The public, known as “kissing hands” – although … Read more

How Liz Truss did it – POLITICO

Press play to listen to this article LONDON — It was in the unlikely surrounds of Port Vale Football Club, a small town and perpetually lower-league team in central England, that the course of British political history was set. In a rented boardroom overlooking the 15,000-capacity Vale Park pitch, Liz Truss was being put through … Read more