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☆ UK net debt passes 100% of GDP for first time since 1961
▼ + stars: | 2023-06-21 | by ( ) www.reuters.com time to read: +1 min

LONDON, June 21 (Reuters) - Britain's public sector net debt surpassed 100% of gross domestic product in May as borrowing came in higher than expected, the Office for National Statistics said on Wednesday. Public sector net debt, excluding that of state-controlled banks, hit 2.567 trillion pounds ($3.28 trillion), equivalent to 100.1% of gross domestic product. That represented the first time that debt stood above 100% of GDP since 1961 although it was temporarily recorded as passing that threshold during the COVID-19 pandemic before being revised lower. The ONS said government borrowing in May stood at 20.045 billion pounds. A Reuters poll of economists had pointed to public sector net borrowing, excluding state-owned banks, of 19.5 billion pounds.

Persons: William Schomberg, David Milliken Organizations: National Statistics, Public, ONS, Thomson

Economists polled by Reuters had forecast that the annual consumer price inflation rate would drop to 8.4% in May, moving further away from October's 41-year high of 11.1%. "May's CPI figures ratchet up the pressure on the Monetary Policy Committee to increase Bank Rate substantially further over the coming months," Samuel Tombs, chief UK economist at Pantheon Macroeconomics, said. Food and drink price inflation dropped slightly to 18.3% from April's 19.0%. The BoE is widely expected to raise interest rates on Thursday to 4.75% from 4.5%. After Wednesday's data, markets fully priced in interest rates reaching 6% by December - up from around a 50% chance of such a move on Tuesday.

Persons: Henry Nicholls, Samuel Tombs, Sterling, BoE, Grant Fitzner, . Paul Dales, Rishi Sunak, Jeremy Hunt, Andrew Heavens Organizations: Bank of England, REUTERS, Bank of, Reuters, Monetary, Committee, Pantheon, U.S ., National Statistics, ., Capital Economics, Bank, Fed, ECB, Thomson Locations: City, London, Britain, Bank of England

☆ Explainer: Why is inflation so high in the UK?
▼ + stars: | 2023-06-21 | by ( William Schomberg | ) www.reuters.com time to read: +4 min

Although down from 11.1% last October, it left the country with the highest inflation rate among the Group of Seven advanced economies. Higher core inflation is seen as a sign that price growth is more likely to remain persistently high. Another gauge of underlying price pressure that is watched closely by the BoE - services price inflation - also rose. WHY IS FOOD INFLATION SO HIGH IN THE UK? Industry data published on Tuesday showed British grocery inflation eased slightly for the third month in a row in June.

Persons: BoE, BoE Governor Andrew Bailey, William Schomberg, Catherine Evans Organizations: Bank of England, Reuters, Britain, Food and Agriculture Organization, United Nations, European Union, OF, Investors, Thomson Locations: United States, Europe, Germany, Britain, China, Japan, Ukraine, London, Brussels

That threw a new curveball at UK markets, as just last week economists polled by Reuters had unanimously expected the BoE to raise by 25 basis points. I would not be surprised if we see a 50-bp rate rise from the Bank of England tomorrow." Other analysts said delivering a larger rate rise on Thursday risked further undermining the BoE's messaging. Bets on where BoE rate hikes might peak rose as high as 6% on Wednesday. The rise in yields hit UK housebuilders (.FTNMX402020), which were down as much as 3.1%.

Persons: BoE, Melanie Baker, Liz, Nick Rees, Richard McGuire, Rabobank's McGuire, Yoruk Bahceli, William Schomberg, Dhara Ranasinghe, Danilo Masoni, Alun John, Peter Graff Organizations: Bank of England, Reuters, Royal London Asset Management, Reuters Graphics Reuters, Wednesday's, MPC, FX, Monex, Rabobank, Sterling, Thomson Locations: Monex Europe

☆ Square where Julius Caesar was killed opens to the public in Rome
▼ + stars: | 2023-06-20 | by ( ) edition.cnn.com time to read: +1 min

Rome CNN —History buffs will be able to stroll close to the spot where legend says Julius Caesar met his bloody end, when Rome authorities open a new walkway on the ancient site on Tuesday. According to tradition, he died in the capital’s central Largo Argentina square - home to the remains of four temples. They are all currently below street level and up until recently could only be viewed from behind barriers close to a busy road junction. From Tuesday, visitors will be able to move through the site at ground level on the walkway and see the structures up close. Italian fashion house Bulgari funded the work at a site that was first discovered and excavated during building work in Rome in the 1920s.

Persons: Rome, Julius Caesar, William Shakespeare, Caesar, Brutus Organizations: Rome CNN Locations: Rome, Largo Argentina, Italian

☆ The Establishment vs. Trump
▼ + stars: | 2023-06-20 | by ( Holman W. Jenkins | ) www.wsj.com time to read: 1 min

Holman W. Jenkins Jr. is a member of the editorial board of The Wall Street Journal. Mr. Jenkins joined the Journal in May 1992 as a writer for the editorial page in New York. In February 1994, he moved to Hong Kong as editor of The Asian Wall Street Journal's editorial page. Mr. Jenkins won a 1997 Gerald Loeb Award for distinguished business and financial coverage. Born in Philadelphia, Mr. Jenkins received a bachelor's degree from Hobart and William Smith Colleges and a master's degree in journalism from Northwestern University.

Persons: Holman W, Jenkins, Mr, Gerald Loeb, William Smith Organizations: Street, William, William Smith Colleges, Northwestern University, University of Michigan Locations: New York, Hong Kong, San Francisco, Philadelphia, Hobart

☆ Rome to open ancient square where Julius Caesar was killed
▼ + stars: | 2023-06-19 | by ( ) www.reuters.com time to read: +1 min

[1/5] General view shows the archaeological area of Largo Argentina a day before it reopens to the public after restoration, in Rome, Italy June 19, 2023. REUTERS/Remo CasilliROME, June 19 (Reuters) - History buffs will be able to stroll close to the spot where legend says Julius Caesar met his bloody end, when Rome authorities open a new walkway on the ancient site on Tuesday. According to tradition, he died in the capital's central Largo Argentina square - home to the remains of four temples. Italian fashion house Bulgari funded the work at a site that was first discovered and excavated during building work in Rome in the 1920s. The area - close to where Caesar is supposed to have exclaimed "Et tu, Brute?"

Persons: Remo Casilli ROME, Julius Caesar, William Shakespeare, Caesar, Brutus, Keith Weir, Andrew Heavens Organizations: REUTERS, Thomson Locations: Largo Argentina, Rome, Italy, Italian

☆ UK food production costs fall for first time since 2016: Lloyds
▼ + stars: | 2023-06-19 | by ( ) www.reuters.com time to read: +1 min

LONDON, June 20 (Reuters) - British food manufacturers reported the first drop in their production costs since 2016 in May as lower commodity and energy prices and cheaper shipping outweighed a jump in wage bills, a Lloyds Bank report showed on Tuesday. "It will still take some time before we see the benefit in terms of shelf prices," said Annabel Finlay, a managing director at Lloyds Bank. Food price inflation, as measured by Britain's Office for National Statistics, hit its highest since 1977 in April at 19.1% and only eased fractionally in May. Last week Tesco, Britain's biggest supermarket chain, said food price inflation had peaked and it and others have said they are cutting the prices of some foodstuffs and freezing others. The Lloyds Bank report is based on an analysis of S&P Purchasing Managers' Index data covering around 1,300 companies.

Persons: Annabel Finlay, Andrew Bailey, David Milliken, William Schomberg Organizations: Lloyds Bank, Manufacturers, United Nations, Britain's, National Statistics, Tesco, Bank of England, P, Thomson Locations: British

☆ Trump Is Only a Co-Star in America’s Unreality Show
▼ + stars: | 2023-06-16 | by ( Holman W. Jenkins | ) www.wsj.com time to read: 1 min

☆ Glenda Jackson, British actor turned politician, dies aged 87
▼ + stars: | 2023-06-15 | by ( Elizabeth Piper | ) www.reuters.com time to read: +5 min

Raw-boned, pallid and angular, with striking, sharp eyes, she had starred on stage, television and film before quitting to take up politics, declaring: "An actor's life is not interesting". Jackson also won two Emmy awards for her portrayal of England's Queen Elizabeth I in the BBC's 1971 television series "Elizabeth R". After more than three decades on stage and film, Jackson quit acting and took her no-nonsense, straight-talking style into politics. In 1992, at the age of 55, Jackson won a seat in parliament representing the left-of-centre Labour Party in a constituency in north London. In parliament, Jackson was vociferous in her condemnation of the Conservative Party which she accused of instilling a "dreadful, dreadful moral malaise" in Britain.

☆ Trump Is Normal on Secrets
▼ + stars: | 2023-06-13 | by ( Holman W. Jenkins | ) www.wsj.com time to read: 1 min

☆ Memoir of a ‘Very Large Life,’ With Poetry, Crusades and Glittering Names
▼ + stars: | 2023-06-12 | by ( Celia Mcgee | ) www.nytimes.com time to read: +1 min

Rose Styron used to start her daily swim of the season in May, when the waters off the long dock at her house in Vineyard Haven, on Martha’s Vineyard, still barely reach 50 degrees. “Now that I’m 95, though,” she said one day in April, “I may wait until June.”The first of Styron’s four books of poetry, “From Summer to Summer,” a collection for children, was published in 1965. Her most recent, “Fierce Day,” a coming to terms with the death of her husband, the author William Styron, in 2006, was published in 2015. As long as guests are interesting, they are summoned there still. The Styrons were the first people the singer-songwriter Carly Simon wanted to meet when she arrived on the Vineyard in 1970.

Persons: Rose Styron, ”, “, William Styron, Styron, Nobel, Sinn Fein, Katharine Graham, Jacqueline Kennedy Onassis, Carly Simon, ” Simon Organizations: Vineyard Sound, Ulster Unionists, Hyannis Port Kennedys Locations: Vineyard Haven, Hyannis

The Bank of England in February removed its explicit guidance and tied decisions to inflation data. The Bank of Japan, by contrast, still battling to raise perennially weak inflation, has left the core part of its guidance intact with a pledge to "patiently" sustain loose policies. The European Central Bank says it has adopted a "meeting-by-meeting" approach with "a strong preference against returning to outright forward guidance on policy rates." If the projections show the policy rate moving up later this year, officials will likely face questions if they do as expected and hold rates steady at the June meeting. If the rate is not seen moving up, they will face questions about not being responsive to recent data showing strong inflation despite pledging to be "data dependent."

Persons: Jerome Powell, BOE, Andrew Bailey, Powell, Ben Bernanke, Bernanke, Gregory Daco, Louis, James Bullard, Data's, Howard Schneider, Dan Burns, Andrea Ricci Organizations: Reserve Bank of Australia, Bank of Canada, Bank of England, Bank of Japan, European Central Bank, Louis Fed, Reuters, Thomson Locations: Central

☆ Silvio Berlusconi, Italy's former showman leader, dies at 86
▼ + stars: | 2023-06-12 | by ( Valentina Di Donato Barbie Latza Nadeau Laura Smith-Spark Peter Wilkinson Antonia Mortensen Rob Picheta | Valentina Di Donato | Barbie Latza Nadeau | ) edition.cnn.com time to read: +18 min

Umberto Cicconi/Hulton Archive/Getty Images Berlusconi swims at a Tunisian beach in 1984. Umberto Cicconi/Hulton Archive/Getty Images Berlusconi leaves a 1985 news conference in Paris. Franco Origlia/Hulton Archive/Getty Images Berlusconi announced in November 1993 that he would be entering the world of politics. Franco Origlia/Hulton Archive/Getty Images Berlusconi waves while attending a European Council meeting in Corfu, Greece, in June 1994. Vittorio Zunino Celotto/Getty Images Berlusconi hands the Berlusconi Trophy to AC Milan's Massimo Ambrosini in August 2011.

Persons: Rome, Rome CNN — Silvio Berlusconi, Christ, ”, Berlusconi, Milan’s, Benito Mussolini, “ Il Cavaliere ”, Milan, Giorgia Meloni, Matteo Salvini, Silvio Berlusconi, Alessandra Benedetti, Eric Vandeville, Indro Montanelli, Umberto Cicconi, Italy's, Michel Clement, Francis Apesteguy, Veronica Lario, Franco Origlia, Langevin Jacques, Sygma, Cesare Previti, Pope John Paul II, Bill Clinton, Hillary Clinton, Veronica, William Stevens, Barbara, Eleonora, Oscar Scalfaro, Patrick Hertzog, Romano Prodi, Alberto Pizzoli, Giuseppe Cacace, Gregorio Borgia, Associated Press Berlusconi, Vittorio Zunino Celotto, Massimo Ambrosini, Claudio Villa, Dan Kitwood, preliminarily, Filippo Monteforte, Alessia Pierdomenico, Remo Casilli, Reuters Berlusconi, Giuseppe Lami, Angelo Carconi, Emanuele Cremaschi, Tiziana Fabi, Luigi Brugnaro, Renato Brunetta, Piero Cruciatti, Hungary’s Viktor Orban, Britain’s Boris Johnson, Donald Trump, “ Berlusconi, ” Severgnini, ” Meloni, Claudia Greco, Prodi –, –, Berlusconi’s, Ignazio La Russa, “, Gianfranco Fini –, FILIPPO MONTEFORTE, Vladimir Putin, Volodymr Zelensky, Nobel, salesmanship ’, Jesus Christ, Severgnini, il, salesmanship, Francesca Pascale, Del, Pavarotti, ” Berlusconi, Marina, Carla Dall’Oglio, Luigi Organizations: Rome CNN, Milan’s San Raffaele, Forza Italia, Freedom, Italian, Getty, Canale, AC Milan, Berlusconi, Romano, Associated Press, Associated, Bloomberg, Reuters, Venice, Anadolu Agency, RAI, Media, Milano, Milan –, world’s, Forza Italia Party, Forza, soccer team, Northern League Party, European, Union coalition, Sporting, della, PM, “, ”, Del Monaco Locations: Milan, Paris, AFP, Naples, Italy, Rome, Corfu, Greece, Tatanto, Cannes, France, Italy's, Venice, Italy's Senate, Monza, Lombardy, ”, L’Aquila, Milan’s, Italian, Europe, Ukraine

☆ Australia’s having an intense flu season, and it could be a signal of what’s to come in the US
▼ + stars: | 2023-06-12 | by ( Jen Christensen | ) edition.cnn.com time to read: +7 min

CNN —It’s only June, but scientists in the US are already thinking about flu season. As always at this time of year, they’re keeping a close eye on Australia, which saw an early start to its flu season. “We closely monitor what happens in countries throughout the Southern Hemisphere this time of year, just to see what’s happening during their flu season. If many people opt out of the flu vaccine, cases could rise. So while Reed and her colleagues will be watching Australia’s flu numbers and running their calculations, it’s still not totally clear what 2023’s flu season will bring for the US.

Persons: CNN — It’s, don’t, Care, It’s, ”, Carrie Reed, Reed, “ We’ve, Thomas McAndrew, “, Taylor Swift, ” McAndrew, William Schaffner, Dr, Sanjay Gupta, –, it’s, ” Reed Organizations: CNN, Australian Department of Health, US Centers for Disease Control, CDC, Department of Community, Population Health, Lehigh University . “, Vanderbilt University Medical Center, National Foundation for Infectious Diseases, CNN Health, World Health Organization, agency’s Department of Health, Care Locations: Australia, Southern, Chicago, agency’s

☆ What Chris Licht Got Right and Wrong at CNN
▼ + stars: | 2023-06-09 | by ( Holman W. Jenkins | ) www.wsj.com time to read: 1 min

☆ US and UK back new 'Atlantic Declaration' for economic cooperation
▼ + stars: | 2023-06-08 | by ( ) www.reuters.com time to read: +2 min

WASHINGTON/LONDON, June 8 (Reuters) - Britain and the United States backed a new "Atlantic Declaration" on Thursday for greater cooperation on pressing economic challenges in areas like clean energy, critical minerals and artificial intelligence. The joint declaration described the partnership as the "first of its kind" in covering the broad spectrum of the two countries' economic, technological, commercial and trade relations. Under the plan, Britain and the United States will strengthen their supply chains, develop technologies of the future and invest in one another's industries, British Prime Minister Rishi Sunak's office said. The two nations will also begin negotiations on a critical minerals agreement, which would allow some UK firms to access tax credits available under the U.S. Inflation Reduction Act. Britain and the United States will also co-operate on telecoms technology including 5G and 6G and quantum technologies, the Atlantic Declaration said.

Persons: Rishi Sunak's, Joe Biden, Biden, Trevor Hunnicutt, Alistair Smout, Sachin Ravikumar, William Schomberg, Jonathan Oatis Organizations: WASHINGTON, United, British, Britain, Sunak, U.S, Thomson Locations: LONDON, Britain, United States, Washington, U.S

☆ Britain, U.S. to work together on AI safety, says Sunak
▼ + stars: | 2023-06-08 | by ( ) www.reuters.com time to read: 1 min

WASHINGTON, June 8 (Reuters) - Britain and the United States have agreed to work together on artificial intelligence safety, British Prime Minister Rishi Sunak said on Thursday. "Today, the President and I agreed to work together on AI safety," Sunak said at a joint press conference with U.S. President Joe Biden. "The UK looks forward to hosting the first global summit on AI safety later this year, so that we can seize the extraordinary possibilities of this new technological age, and do so with confidence." Reporting by Trevor Hunnicutt and Sachin Ravikumar; editing by William SchombergOur Standards: The Thomson Reuters Trust Principles.

Persons: Rishi Sunak, Sunak, Joe Biden, Trevor Hunnicutt, Sachin Ravikumar, William Schomberg Organizations: British, U.S, Thomson Locations: Britain, United States

☆ UK housing market improves but slowdown seen as rates rise-RICS
▼ + stars: | 2023-06-07 | by ( Suban Abdulla | ) www.reuters.com time to read: +2 min

RICS' house price balance, which measures the difference between the percentage of surveyors seeing rises and falls in house prices, increased to -30 last month from -39 in April. However, analysts are forecasting another slowdown for the housing market with markets largely expecting the BoE's Bank Rate to peak at 5.5% later this year, up from 4.5% now. Britain's housing market staged a recovery earlier this year after former prime minister Liz Truss's "mini-budget" caused turmoil in financial markets in September and sent the cost of fixed mortgage rates sharply higher to above 6%. Britain's biggest mortgage lender, Halifax, on Wednesday said house prices dropped by 1.0% year-on-year in May, the first annual decline since 2012. Some mortgage lenders, including Halifax and Nationwide Building Society have ramped up their fixed mortgage rates in response to the rise in borrowing costs in financial markets.

Persons: RICS, Tarrant Parsons, Liz Truss's, BoE, Suban Abdulla, William Schomberg Organizations: Bank of England, Royal Institution, Chartered Surveyors, Nationwide, Nationwide Building Society, Thomson Locations: April's, Halifax

☆ Prince Harry set to give evidence in phone hacking trial
▼ + stars: | 2023-06-06 | by ( Rob Picheta | ) edition.cnn.com time to read: +6 min

London CNN —Prince Harry will take to the witness stand Tuesday as his years-long battle against Britain’s tabloid media reaches its most dramatic stage so far. Another story discussed touched on the relationship between Harry and Prince William in 2003. Documents published in April as part of Harry’s lawsuit against NGN allege that the publisher privately reached an undisclosed settlement with Prince William over historical phone hacking claims. Officials at Kensington Palace, which represents Prince William, told CNN it does not comment on legal proceedings. Prince Harry states that his late grandmother, Queen Elizabeth II, was aware of settlement talks.

Persons: London CNN — Prince Harry, Harry, It’s, Duke, Sussex, MGN, David Sherborne, ” Harry, ” Sherborne, Sherborne, –, wouldn’t, Diana, Princess Diana, Prince William, Meghan, Hannah McKay, Rupert, Princess Anne, Edward VII, NGN, Prince Harry, Buckingham, Queen Elizabeth II Organizations: London CNN, Sunday People, MGN, PA Media, Court, British, Rupert Murdoch’s News Group, Reuters, NGN, Sun, Associated Newspapers Limited, CNN Locations: London, British, Windsor, Kensington

☆ NZ's Infratil to buy stake in One New Zealand for $1.1 bln
▼ + stars: | 2023-06-06 | by ( Navya Mittal | ) www.reuters.com time to read: +1 min

June 7 (Reuters) - New Zealand's infrastructure investor Infratil (IFT.NZ) said on Wednesday it will acquire Canada's Brookfield Asset Management's (BAM.TO) stake in One New Zealand for NZ$1.8 billion ($1.1 billion) to strengthen its digital and renewable portfolio. Infratil will have full control over the country's second biggest mobile market operator by market share after buying the 49.95% stake. One New Zealand, previously known as Vodafone NZ, has 2.7 million connections of its mobile and broadband networks. "Since acquiring One New Zealand with Brookfield in 2019, we have invested meaningful capital to support network expansion, including the roll-out of 5G, and are pleased to now assume full ownership of the business," said William Smales, chief investment officer at Morrison & Co, which manages Infratil. ($1 = 1.6466 New Zealand dollars)Reporting by Navya Mittal in Bengaluru; Editing by Chris Reese, Lisa Shumaker and Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.

Persons: Jason Boyes, William Smales, Navya Mittal, Chris Reese, Lisa Shumaker, Sherry Jacob, Phillips Organizations: NZ, Vodafone NZ, Morrison & Co, Zealand, Thomson Locations: New Zealand, Zealand, Brookfield, Bengaluru

☆ Prince Harry is set to give evidence as he takes on UK newspaper publisher in court. Here’s what you need to know
▼ + stars: | 2023-06-05 | by ( Rob Picheta | ) edition.cnn.com time to read: +5 min

The latest hearing in the Duke of Sussex’s case against Mirror Group Newspapers (MGN) began Monday at the High Court. The appearance of a British royal in a witness box will be an exceptionally rare event. In court documents published last month, the publisher did apologize for one instance of unlawful information gathering nearly 20 years ago. And while this is Harry’s first appearance in a court case against the British media, it may not be his last. Prince Harry states that his late grandmother, Queen Elizabeth II, was aware of settlement talks.

Persons: London CNN — Prince Harry’s, Duke, Harry, It’s, Sussex, MGN, David Sherborne, ” Harry, ” Sherborne, Sherborne, Meghan, Hannah McKay, Rupert, Princess Anne, Edward VII, Prince William, NGN, Prince Harry, Buckingham, Queen Elizabeth II Organizations: London CNN —, Mirror Group, Sunday People, MGN, PA Media, Court, British, Rupert Murdoch’s News Group, Reuters, NGN, Sun, Associated Newspapers Limited, CNN Locations: London, British, Windsor, Kensington

☆ With Prince Harry to Testify in Hacking Case, Royals Prepare to Cringe
▼ + stars: | 2023-06-05 | by ( Mark Landler | ) www.nytimes.com time to read: +1 min

Prince Harry’s bitter, yearslong feud with Britain’s tabloid press will come to a head this week. He is scheduled to take the stand on Tuesday in a London courtroom for a lawsuit against the Mirror newspaper group on charges that it hacked his cellphone more than a decade ago. Since he and Meghan withdrew from royal duties in 2020 and left Britain for Southern California, Harry has become estranged from his father, Charles, and his elder brother, Prince William. Members of the royal family have preferred to settle legal claims rather than undergo the scrutiny of a courtroom. William settled a phone hacking case against Rupert Murdoch’s British newspaper group, the News Group, for a “huge sum of money” in 2020, Harry claimed in a legal filing in a separate case earlier this year.

Persons: Prince Harry’s, King Charles III, Windsor, Harry, Duke of Sussex, Meghan, Charles, Prince William, William, Rupert Murdoch’s Organizations: Mirror, Rupert Murdoch’s British, News Locations: London, Windsor —, Britain, Southern California

☆ Opinion: What Oppenheimer’s reading list can teach us
▼ + stars: | 2023-06-04 | by ( Jane Carr | Opinion Jane Greenway Carr | ) edition.cnn.com time to read: +15 min

Oppenheimer’s list of books included works by Plato, mathematician Bernhard Riemann and scientist Michael Faraday, and the “Bhagavad-Gita,” with which he has famously long been associated. What happens when the inner workings and potential reach of scientific inventions are unknown, even to the human beings who create them? Still, Pride is also a time to revel in culture’s power to transform, sustain and bring joy to LGBTQ communities. But Medvedev knows that above all else he needs Putin to think of him as unequivocally loyal and useful. What it will do is help 40 million borrowers who, like me, were drowning in debt and need immediate relief.

Persons: Robert Oppenheimer, ” Oppenheimer, Plato, Bernhard Riemann, Michael Faraday, William Shakespeare’s “, ” Charles Baudelaire’s “, Fleurs, Mal ”, Eliot’s, Oppenheimer, ” Matthew Zapruder, ”, William Carlos Williams, Nick Anderson, ChatGPT, Stuart Russell, Jessica Chia, Bethany Cianciolo, Russell, isn’t, ” Russell, “, Clay Jones, Joe Biden, John Avlon, Kevin McCarthy, McCarthy, Joel Pett, Poppy Harlow, James Comey, Donald Trump, Republicans ’, MAGA, Julian Zelizer, Zelizer, Trump, Kayleigh McEnany, Rob Finnerty, Matt Wolking, Cupp, McEnany, that’s, Kayleigh, Pride Luciano, Sereno, Luciano Vecchio, It’s, ” Vecchio, “ Sereno, Dmitry Medvedev, Vladimir Putin, Russia’s, Frida Ghitis, Medvedev, Putin, ” Medvedev “, Michael Bociurkiw, Biden, Sophia A, Nelson ., Nelson, it’s, …, Brandon Bell, Jill Filipovic —, —, Filipovic, we’ve, ” Don’t, Keith Magee, Kara Alaimo, James Moore, Texas GOP Tess Taylor, Lala Tanmoy Das, Alex Soros, Scottie Pippen can’t, Jordan, Scottie Pippen, Nathaniel S, Butler, NBAE, Michael Jordan, ” Pippen, Charles Barkley, Phil Jackson —, Will Leitch, ” Leitch, Pippen, Leitch, There’s Organizations: CNN, Manhattan, American, Committee, Tribune, Agency, Biden, Republicans, Trump, GOP, Luciano Vecchio Pride, United, AFP, Russia’s Security, Republican, Texas GOP, Philadelphia 76ers, Getty, NBA Locations: Berkeley, Iowa, revel, it’s, Argentina, United Russia, United Kingdom, Russia, Houston City, America, European, Texas

☆ UK's Sunak wants to cut taxes by up to 2% before election, the Telegraph reports
▼ + stars: | 2023-06-03 | by ( ) www.reuters.com time to read: +1 min

LONDON, June 3 (Reuters) - British Prime Minister Rishi Sunak wants to cut taxes by as much as 2 pence in the pound before the next national election which is expected in 2024, the Telegraph newspaper reported. Government officials believed that a slower-than-expected fall in Britain's high inflation rate would not prevent a tax cut from April, the paper said without citing its sources. Sunak has previously said he wants to cut taxes but only once the hole in the public finances has been fixed and he has also pledged to halve inflation this year. The Telegraph said the tax cuts under consideration could be introduced via Britain's National Insurance social security system or personal income tax. Many Conservative lawmakers want Sunak to cut taxes, even as demands grow for more spending on public services, including the health system.

Persons: Rishi Sunak, Sunak, William Schomberg, Nick Zieminski Organizations: British, Telegraph, Government, Britain's National Insurance, Sunak's Conservative Party, Labour Party, Conservative, Thomson Locations: Britain's

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