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UK PM Truss says she will not cut public spending to fund tax cuts
  + stars: | 2022-10-12 | by ( ) www.cnbc.com   time to read: +1 min
British Prime Minister Liz Truss said on Wednesday she would not cut public spending. British Prime Minister Liz Truss said on Wednesday she would not cut public spending after her government came under pressure to fund vast tax cuts that have roiled markets and sparked alarm over government finances. The Institute of Fiscal Studies (IFS) said this week that the government needed to find 62 billion pounds ($68.5 billion) of spending cuts or tax rises to stop the public debt growing. Truss was asked at her weekly parliamentary questions if she was still committed to a pledge she made during the Conservative Party leadership contest that she was not planning public spending cuts. "What we will make sure is that over the medium term the debt is falling, but we will do that not by cutting public spending but by making sure we spend public money well," she said.
Morning Bid: What a fine mess
  + stars: | 2022-10-11 | by ( ) www.reuters.com   time to read: +2 min
Oct 11 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeeverSometimes it's better to say nothing at all. The rupee is even deeper in the mire than the won - this week it hit a record low of 82.82 per dollar. Both the BoK and Reserve Bank of India have intervened in FX markets this year to support their exchange rates. They - and others - might have to do more, raising the risk that central banks offload more of their U.S. Treasuries. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.
A slump in UK government bonds that promise to protect investors from inflation — known as index-linked gilts — was the latest source of risk, it said. “Dysfunction in this market, and the prospect of self-reinforcing ‘fire sale’ dynamics pose a material risk to UK financial stability,” it said in a statement. Starting Tuesday, the Bank of England will include index-linked gilts in its emergency £65 billion ($71.7 billion) bond-buying program announced on Sept. 28. The market meltdown began after Prime Minister Liz Truss’ government unveiled £45 billion in unfunded tax cuts on Sept. 23. And with monetary and fiscal policy now working in opposite directions, we think the broader risks around UK monetary [and] financial stability are growing,” he added.
Interest rates for new long-term government borrowing leapt to a 20-year high last month, after Kwarteng announced 45 billion pounds of unfunded tax cuts, on top of even greater short-term support for households' and businesses' energy bills. "The Chancellor should not rely on over-optimistic growth forecasts or promises of unspecified spending cuts. British government borrowing looks on course to hit 194 billion pounds this financial year and to still be 103 billion pounds in 2026/27 - 71 billion more than government forecasters predicted in March, the IFS said. COSTLY DEBTDebt interest would cost 106 billion pounds this year and 103 billion pounds in 2023/24, the IFS predicted, due to the large amount of finance raised in years gone by through issuing bonds that pay interest that rises as inflation goes up. "Such spending cuts could be done, but would be far from easy," the IFS said.
Interest rates for new long-term government borrowing leapt to a 20-year high last month, after Kwarteng announced 45 billion pounds of unfunded tax cuts, on top of even greater short-term support for households' and businesses' energy bills. "The Chancellor should not rely on over-optimistic growth forecasts or promises of unspecified spending cuts. British government borrowing looks on course to hit 194 billion pounds this financial year and to still be 103 billion pounds in 2026/27 - 71 billion more than government forecasters predicted in March, the IFS said. COSTLY DEBTDebt interest would cost 106 billion pounds this year and 103 billion pounds in 2023/24, the IFS predicted, due to the large amount of finance raised in years gone by through issuing bonds that pay interest that rises as inflation goes up. "Such spending cuts could be done, but would be far from easy," the IFS said.
Such sanctions would prohibit Gazprom from paying Ukraine transit fees, which analysts say could end Russian gas flows to Europe via the country. "(Sanctions) would make into reality the worst-case scenario that European governments have been preparing for all summer, a European gas market without Russian gas," said Natasha Fielding, head of EMEA gas pricing at Argus Media. "Transit through Ukraine is the only Russian gas delivery route to Europe still in use besides the Turkish Stream pipeline, which serves southeast European countries," she added. Gas flows via the only operational Ukraine transit route through Sudzha are currently around 42 million cubic metres a day. As a result, European gas storage was 88% full as of Sept. 26, although there are variations between countries.
UK tax cuts will benefit the rich more than anyone else
  + stars: | 2022-09-26 | by ( Anna Cooban | ) edition.cnn.com   time to read: +3 min
On Friday, UK finance minister Kwasi Kwarteng announced a bumper set of tax cuts, including scrapping the top rate paid by the highest earners, and reductions in duties paid on house purchases. That’s the biggest tax cut in half a century, according to the Institute for Fiscal Studies. Kwarteng slashed the top rate of income tax — paid by those earning over £150,000 ($161,327) — to 40% from 45%. Kwarteng also announced he would accelerate a plan to cut the basic rate of income tax from 20% to 19%. ‘More to come’Kwarteng told the BBC on Sunday that his tax cuts “favor people right across the income scale.”“We’ve actually put more money into people’s pockets,” he told the broadcaster.
Paul Johnson, director of the Institute for Fiscal Studies (IFS) think tank, said Truss and Kwarteng's tax cuts could be the largest since 1988, and risked putting Britain's public debt on an unsustainable path. The IFS, together with U.S. bank Citi, estimate household energy subsidies will cost about 120 billion pounds over two years, while six months of business energy subsidies will cost 40 billion pounds. read moreThese are a one-off, and the bigger concern for the IFS is around 30 billion pounds of permanent tax cuts - starting with 14 billion pounds in reduced payroll taxes, confirmed on Thursday, and 15 billion pounds of cuts to corporation tax. For Kwarteng, tax cuts and deregulation are a way to end what he calls "a cycle of stagnation" that led to tax rates being on course for their highest level since the 1940s. "We will liberalise planning rules in specified agreed sites, releasing land and accelerating development," Kwarteng is expected to say.
REUTERS/Toby MelvilleLONDON, Sept 23 (Reuters) - Britain's new economic agenda of tax cuts and high spending do not represent a gamble because improved economic growth will pay for it, cabinet minister Simon Clarke said ahead of a major fiscal announcement on Friday. Close to 200 billion pounds ($225 billion) of tax cuts, energy subsidies and planning reforms are due to be announced by new finance minister Kwasi Kwarteng as part of Prime Minister Liz Truss's bid to spur growth. "The critical thing is we need to get the economy growing so that, frankly, the economic growth trajectory outstrips that of our debt." Truss has aspirations to double the long-run rate of British annual economic growth to 2.5%. Clarke said the metrics of success would be in improved economic growth.
London CNN Business —A huge gamble by the UK government aimed at rescuing the economy from recession and boosting long-term growth sent the pound plunging on Friday. Paul Johnson, director of the Institute for Fiscal Studies, an independent think tank, called the government’s plans “extraordinary.”“It’s half a century since we’ve seen tax cuts announced on this scale,” he said in a tweet. The pound sank almost 2% to $1.10 on Friday after Kwarteng’s announcement to its lowest level since 1985. The measures come a day after the Bank of England warned that the country was already likely in a recession. ‘Unfunded giveaways’News of the heavy additional government borrowing rattled investors already concerned that the country is spending beyond its means.
LONDON, Sept 23 (Reuters Breakingviews) - In her early days as prime minister, Liz Truss has had two mantras. As expected, Kwarteng reversed a planned hike in national insurance rates, costing around 17 billion pounds per year. The whole package will cost 45 billion pounds by 2027, while the government is also spending 60 billion pounds capping household and business energy bills. Support for household energy bills announced by Truss will cost 60 billion pounds for the next six months, Kwarteng said. Tax cuts would cost a further 45 billion pounds by 2026-2027, according to UK finance ministry costings.
Paul Johnson, director of the Institute for Fiscal Studies (IFS) think tank, said Truss and Kwarteng's tax cuts could be the largest since 1988, and risked putting Britain's public debt on an unsustainable path. The IFS, together with U.S. bank Citi, estimate household energy subsidies will cost about 120 billion pounds over two years, while six months of business energy subsidies will cost 40 billion pounds. read moreThese are a one-off, and the bigger concern for the IFS is around 30 billion pounds of permanent tax cuts - starting with 14 billion pounds in reduced payroll taxes, confirmed on Thursday, and 15 billion pounds of cuts to corporation tax. For Kwarteng, tax cuts and deregulation are a way to end what he calls "a cycle of stagnation" that led to tax rates being on course for their highest level since the 1940s. "We will liberalise planning rules in specified agreed sites, releasing land and accelerating development," Kwarteng is expected to say.
UK tax cuts risk 'unsustainable' debt rise - think tank
  + stars: | 2022-09-21 | by ( ) www.reuters.com   time to read: +2 min
REUTERS/David 'Dee' DelgadoLONDON, Sept 21 (Reuters) - Prime Minister Liz Truss's plans to cut payroll taxes and reverse a planned increase in corporation tax risk putting Britain's national debt on an unsustainable upward path, the Institute for Fiscal Studies think tank said on Wednesday. Truss promised the tax cuts, worth around 30 billion pounds a year, as part of her successful campaign for the Conservative Party leadership, along with a temporary subsidy for household energy bills that will cost around 100 billion pounds. Register now for FREE unlimited access to Reuters.com Register"Reversing National Insurance Contributions and corporation tax rises would leave debt on an unsustainable path," it said. The IFS said there was little guarantee that permanent tax cuts would create enough growth to pay for themselves. "There is no miracle cure, and setting plans underpinned by the idea that headline tax cuts will deliver a sustained boost to growth is a gamble, at best," it said.
The night the Lord of the Skies got away
  + stars: | 2022-07-22 | by ( Noah Hurowitz | ) www.businessinsider.com   time to read: +38 min
It was May 1985, and Ramirez had only been with the Border Patrol for two and a half years. But he also knew that at the end of that road, just before the international port of entry, was a Border Patrol station. The Lord of the SkiesWithin a decade of that traffic stop, Amado would be the most significant drug trafficker in Mexico. It's the border," Ford told me recently when I reached him by phone. Ford and Amado didn't make a deal that night, but Ford said they agreed to "something tentative."
That’s five times more than the number of teams represented in the first Winter Games in Chamonix, France in 1924. “They want to keep the girls pretty, in a special way,” Bonaly told CNN Sport as she reflected on her career. India has never won a medal at the Winter Games and does not have a prominent winter sports federation, Keshavan told CNN Sport. Shiva Keshavan of India reacts following run 3 during the Luge Men's Singles on day two of the PyeongChang 2018 Winter Olympic Games. Hopefully, it just encourages more and more Black athletes to come out to winter sports and not just Black athletes, winter sports for everybody.
Foto: anticorupție.mdIlan Șor, fost primar de Orhei și actual deputat este cap de listă al Partidului Șor. Tauber a fost reținută, dar un an mai târziu, a fost scoasă de sub urmărire penală, pe motiv că faptele nu ar întruni elementele infracțiunilor imputate. În conturile bancare, candidatul deține 167 de mii de lei și o cotă de participare în cadrul firmei „Altotal-Cons” SRL. Înainte de a intra în politică, a fost muzician, fapt pentru care a fost decorat, în 2009, de președintele Vladimir Voronin cu titlul de „Artist Emerit”. El a fost a fost eliberat însă din izolator după trei zile.
Persons: ZdG, Ilan Șor, Miron, Ilan Şor, Vlad Filat, Veaceslav Platon, Șor, Şor, Plahotniuc, Ulterior, Ilan, Ilona Şor, vitregă, Kroll, Marina, Ilona Șor, Balinschi, Instanța, Denis Ulanov, Ulanov, Petru Jardan, Jardan, Ilan Șor . Ea, Apostolova, Vadim Fotescu, Vadim, Fotescu, Vladimir Vitiuc, Vitiuc, Tănase, Violeta Ivanov, Voronin ., Ivanov, Deputata, Olga Romanova, Serghei Sîrbu, Sîrbu, Vasile Bolea, Igor Himici, Vladimir Voronin, Ruxanda, Glavan, Vladimir Odnostalco, Grigore Repeșciuc, Repeșciuc, Eleonora Graur, Graur, Rezina ., . Graur, Eleonorei Graur, Corneliu Padnevici, Padnevici, Vladimir Plahotniuc ., Elena Bacalu, Vasile Bacalu, Bacalu, Brașovschi, Dumitru Diacov, Svetlana Ulanova, Ea, inculpatului, Valerii, Klimenko, Andrei Ivanțoc Organizations: Partidului Politic, Partidului, Chișinău, Ilan, Sociale, CEC, Marina Tauber, Tauber, Tenis, Candidata, Volkswagen, BMW, Panama Papers, Internațional Chișinău, PCRM, Volkswagen Passat, Invest, Partidul, Mercedes GLK, PDM, Pro Moldova, Moldova, Mercedes GLE, Protecției Sociale, Familiei, Toyota, Apel, Mercedes, Volvo, Partidul Socialiștilor, Partidul Democrat, Social -, CA, Hyundai Locations: Orhei, Moldova, CA Cahul, Anticorupție, Israel, CEC, Tauber, Jora de, Chișinău, Parlament, Bălţi, Vitiuc, mun, comunist, MMPSF, Căuşeni, Căușeni, Apel Chișinău, Rezina, Codru, Drochia, Dondușeni, Cahul, Sângerei, Procuraturii, Rusiei, Judecătoria Orhei, CA Chișinău, Tiraspol
: 12 din 03.05.2021Asociația Promo-LEX anunță lansarea celui de-al treilea Concurs de Granturi pentru proiecte orientate spre monitorizarea implementării, în special la nivel local sau regional, a reformei poliției și informarea publicului cu privire la aceasta. În acest context, la 12 mai 2016 Guvernul a adoptat Strategia de dezvoltare a Poliției pentru anii 2016-2020. SCOPUL ȘI OBIECTIVELE CONCURSULUI DE GRANTURIConcursul de Granturi are drept scop susținerea proiectelor organizațiilor societății civile și a instituțiilor media orientate spre monitorizarea implementării, în special la nivel local și regional, a reformei poliției și informarea publicului cu privire la aceasta. ;suport în promovarea activității Poliției și a rezultatelor Strategiei de Dezvoltarea Poliției (spre exemplu: consolidarea eforturilor Poliției de asigurare a ordinii publice în contextul pandemiei COVID-19, dezvoltarea capacităților de reacție rapidă a echipelor de intervenție a Poliției la apelurile de urgență, promovarea recrutării în cadrul Poliției, informarea și educarea societății cu privire la riscurilor și tendințele criminalității locale / regionale, etc. ACTIVITĂȚI ELIGIBILEAsociația Promo-LEX va susține proiecte care prevăd activități focusate asupra evaluării/monitorizării modului de implementare și a rezultatelor reformei poliției în teritoriu sau în cadrul diferitor subdiviziuni ale poliției, a activității propriu-zis a poliției la nivel local/regional, precum și activități de educație civică și informare a cetățenilor care au în centrul atenției activitatea poliției.
Persons: ., Grant, Alexei Munteanu Organizations: Interne, Delegația UE, Uniunea Europeană, ARIA, Euro, Președintele Locations: 03.05.2021, Republica Moldova, Republicii Moldova, SUA, Chișinău
Несколько месяцев 2020 года, проведенных взаперти в условиях карантинных ограничений, радикально повлияли на количество разводов и расставаний в мире, сообщает eNews. Те, кто поддерживает отношения на расстоянии, особенно в разных странах, месяцами не имели возможности встретиться. Согласно исследованию общественной организации Американский институт семьи (IFS), треть опрошенных в течение года испытывали "травматичный стресс", вызванный не столько пандемией, сколько личными обстоятельствами. Например, в ответ на что-то раздражающее говорить "Мне это не нравится", а не, например: "Ты заставляешь меня чувствовать себя плохо". Пусть и дистанционно, люди в 2020 году стали разговаривать с ними гораздо чаще, и это тоже разновидность семейной терапии.
Persons: Kasabian, Арми Хаммер, Элизабет Чеймберс, Джонни Галэки, Леонард, Алейна, Майер, Том Мейган, Викки Агер, Мейган, любимымиГлобально, Ребекка Баум, Бибиси, Рени, Ричард, Рафаэла Шмидт, Кирон Бьятт, Энбиси, Кейт Мойл Organizations: Cosmopolitan, Социальная сеть, Американский институт семьи () Locations: Нигерия, Бразилия, Великобритания, Канада, Китай, Россия, Британия
Oana Lungu, director Achiziții Kaufland România și Republica Moldova, a prezentat oportunitățile disponibile producătorilor autohtoni, dar și realizările obținute datorită colaborării acestora cu Kaufland Moldova. Mai multe detalii despre cum puteți deveni partenerul Kaufland Moldova și livra produsele în cele 3 magazine din țară, aflați în acest articol. „Kaufland a reușit să deschidă peste 1300 de magazine în 8 țări ale lumii, printre care se numără și Republica Moldova. După deschiderea primului magazin Kaufland în 2005 în România, anul trecut ne-am lansat și pe piața din Republica Moldova”, a menționat Oana Lungu. Dacă vrei să devii furnizor Kaufland Moldova, transmite oferta pe office@kaufland.md.
Persons: Oana Lungu, Kaufland, Ne Organizations: Kaufland, România Locations: Republica Moldova, Moldova, România, Half, Kaufland, Kaufland Germania, Kaufland România
Ассоциация Moldova Fruct, владелец известного бренда «Молдова — особый вкус», будет более внимательно следить за его использованием на внутреннем и внешнем рынке производителями и экспортерами фруктов. Moldova Fruct зарегистрировала право собственности на товарный знак «Молдова — особый вкус» в Государственном агентстве интеллектуальной собственности в 2014 году. - Реклама -Бренд «Молдова — особый вкус» — это инструмент для универсального продвижения высококачественных молдавских фруктов, соответствующих установленным требованиям. Торговая марка «Молдова — особый вкус» может использоваться совместно с торговой маркой производителя. В настоящее время только члены Ассоциации производителей и экспортеров фруктов Moldova Fruct имеют право использовать бренд.
Persons: Юрие Фалэ Organizations: USAID, Moldova Fruct, Ассоциация Moldova Fruct, Агентство, МОЛДПРЕС, Moldova Fruct, Государственное агентство интеллектуальной собственности, Регламент, Оценочная комиссия, Ассоциация производителей и экспортеров фруктов Moldova Fruct Locations: Moldova, — Moldova, США, Молдова (USAID), Молдова, Республика Молдова
Ассоциация Moldova Fruct, владелец известного бренда «Молдова — особый вкус», будет более внимательно следить за его использованием на внутреннем и внешнем рынке производителями и экспортерами фруктов. Moldova Fruct зарегистрировала право собственности на товарный знак «Молдова — особый вкус» в Государственном агентстве интеллектуальной собственности в 2014 году. - Реклама -Бренд «Молдова — особый вкус» — это инструмент для универсального продвижения высококачественных молдавских фруктов, соответствующих установленным требованиям. Торговая марка «Молдова — особый вкус» может использоваться совместно с торговой маркой производителя. В настоящее время только члены Ассоциации производителей и экспортеров фруктов Moldova Fruct имеют право использовать бренд.
Persons: Юрие Фалэ Organizations: USAID, Moldova Fruct, Ассоциация Moldova Fruct, Агентство, МОЛДПРЕС, Moldova Fruct, Государственное агентство интеллектуальной собственности, Регламент, Оценочная комиссия, Ассоциация производителей и экспортеров фруктов Moldova Fruct Locations: Moldova, — Moldova, США, Молдова (USAID), Молдова, Республика Молдова
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