UK’s rising fiscal burden narrows tax gap with Europe

Britain’s fiscal picture is closer to EU averages than it has been for decades

Business - Financial Times - 6 hours ago

FirstFT: Musk backs Trump election bid with $75mn donation

Also in today’s newsletter, luxury shares fall after poor LVMH results and Boeing raises new capital

World - Financial Times - October 16

Europe’s fiscal tug of war

Pressure to display fiscal discipline is no less high than pressure to spend more on security and economic innovation

World - Financial Times - 4 days ago

Reeves aims to close £40bn funding gap as she plans tax rises in Budget

Figure is significantly more than the £22bn fiscal hole the government previously identified

Business - Financial Times - October 15

UK tax rises acceptable if part of pro-business Budget, CBI says

Rupert Soames believes companies will judge October 30 measures ‘in the round’

Business - Financial Times - October 15

Malaysia to revamp gasoline subsidies and raise taxes in a bid to narrow deficit

Malaysia will introduce new taxes and revamp gasoline, education and healthcare subsidies next year as part of aggressive reforms to narrow the country's fiscal deficit

World - ABC News - October 18

Europe should take a digital leap across its innovation gap

The US is enjoying a virtuous cycle, while the EU is caught in a mid-tech trap

World - Financial Times - October 20

Reeves confirms change to UK fiscal rules to help fund £20bn of annual investment

Chancellor promises in FT to avoid ‘falls in public sector investment’ planned by Tories

Business - Financial Times - 5 days ago

How can Rachel Reeves fill the UK’s £40bn Budget gap?

Chancellor’s options hemmed in by Labour election promises and NHS spending

Business - Financial Times - October 18

These two ‘low tax’ states are getting socked with fast-rising property taxes

Nationally, property taxes in major cities have gone up 30% since 2019, according to a new Redfin analysis.

Business - MarketWatch - 22 hours ago

Reeves signals business taxes will rise in Budget

Chancellor says companies understand government must make ‘difficult decisions’ to balance books

Business - Financial Times - October 14

Flutter chief warns on US betting tax rises

FanDuel owner says punitive duties could push customers towards unlicensed operators

Business - Financial Times - October 15

Reeves eyeing £40bn in tax rises and spending cuts

Filling the £22bn financial "black hole" would only be enough “to keep public services" still, she told a meeting.

No tax rises in payslips for 'working people', vows minister

Bridget Phillipson refused to say if a small business owner was a "working person" in an interview with the BBC, ahead of Wednesday's Budget.

Tax rises needed to avert austerity, Starmer says

The prime minister gives a gloomy economic picture as he set out his justifications for "tough decisions" in the Budget.

UK borrowing rises ahead of Budget

Official data shows borrowing - the difference between spending and tax take - reached £16.6bn last month.

Tax on Europe’s frequent flyers could raise €64bn a year – study

Levy rising by €100 for each return flight after the first in a year could cut emissions by 21%, report says. A “jet-setter” tax on Europe’s frequent flyers could slow global heating and raise ...

World - The Guardian - October 17

Don’t bet on a taxing outcome for UK gambling companies

Fears that money would flow from the regulated sector has long deterred action against the industry

Business - Financial Times - October 14

Tax blow for 1mn UK top earners by 2027

Fiscal drag will pull thousands more into a 60 per cent marginal rate

World - Financial Times - 4 days ago

10-year Treasury yield closes below 4.3% after Tuesday’s initial selloff fades

Long-dated Treasury yields finished lower on Tuesday after a selloff of U.S. government debt that began during European trading hours faded by the end of the New York session.

Business - MarketWatch - 15 hours ago