Politics

Budget 2021: Chancellor Rishi Sunak to face questions after vowing to build ‘stronger economy’

Rishi Sunak will hit the airwaves to sell his budget later, after it was warned that the chancellor’s economic set piece will leave the poorest families “far worse off”. Having vowed to build “a stronger economy for the British people” after the coronavirus crisis in his address on Wednesday, Mr Sunak will face questions about […]

Business

Budget 2021: From 19.1% to 0.9% – could house price growth collapse by that much?

While Budget 2021 allocated an extra $380 million for 1000 new homes for Māori, its bombshell was a projected massive drop to nearly zero in national house price growth. Housing Minister Megan Woods said 1000 papakāinga housing, affordable rentals, transitional housing and owner-occupied housing were planned. But Finance Minister Grant Robertson announced bigger news: the […]

Business

U.S. budget deficit hits record high for March as aid swells outlays

FILE PHOTO: U.S. currency is seen in this picture illustration taken March 6, 2020. REUTERS/Mike Segar/Illustration/File PhotoWASHINGTON (Reuters) -The U.S. government posted a March budget deficit of $660 billion, a record high for the month, as direct payments to Americans under President Joe Biden’s stimulus package were distributed, the Treasury Department said on Monday. The […]

Business

U.S. budget deficit hits record high for March as aid payments swell outlays

FILE PHOTO: U.S. currency is seen in this picture illustration taken March 6, 2020. REUTERS/Mike Segar/Illustration/File PhotoWASHINGTON (Reuters) – The U.S. government posted a March budget deficit of $660 billion, a record high for the month, as direct payments to Americans under President Joe Biden’s stimulus package were distributed, the Treasury Department said on Monday. […]

Politics

Colorado budget: State braced for a long-lasting catastrophe from COVID. It hasn’t happened.

Colorado’s budget writers spent the past year planning for the worst, but they now believe the state has averted long-term economic ruin. In fact, the state legislature’s chief budget writer said Monday, the outlook is actually pretty good. A fuller picture won’t be available until March 19, during economists’ quarterly update, but Democratic Sen. Dominick […]

Politics

Budget 2021: Rise in corporation tax and freeze on thresholds as Rishi Sunak tries to recover COVID debt

Chancellor Rishi Sunak has set out an extra £65bn in COVID support for employees and businesses – but announced a freeze on income tax thresholds and a rise in corporation tax to help pay back the UK’s rising debts. In his budget speech, Mr Sunak set out a three-part plan to “protect jobs and livelihoods […]

Business

U.S. 2020 fiscal year deficit hits record $3.132 trillion: Treasury

A U.S. five dollar note is seen in this illustration photo June 1, 2017. REUTERS/Thomas White/IllustrationWASHINGTON (Reuters) – The U.S. budget deficit hit a record $3.132 trillion during fiscal 2020, more than triple the 2019 shortfall, as a result of massive coronavirus rescue spending, the U.S. Treasury said on Friday. The deficit more than doubled […]

World News

EU keeps defence fund alive with 8 billion euro proposal

BRUSSELS (Reuters) – The European Commission proposed on Wednesday spending 8 billion euros ($8.81 billion) of its next budget on a new European Union defence fund, keeping alive a Franco-German plan to deepen military cooperation despite the economic impact of COVID-19. Unveiled as part of the EU executive’s proposals for the bloc’s seven-year budget from […]