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Nadhim Zahawi settled tax issue with HMRC while he was chancellor, Sky News told
Nadhim Zahawi settled his tax issue with HMRC while he was serving as chancellor, a government source has told Sky News.
Nadhim Zahawi settled his tax issue with HMRC while he was serving as chancellor, a government source has told Sky News.
Former PM accused of trying to ‘grab the wheel’ from Rishi Sunak
MOSCOW (Reuters) -Slumping energy revenues and soaring expenditure pushed Russia's federal budget to a deficit of 1.76 trillion roubles ($24.78 billion) in January, as sanctions and the cost of Moscow's military campaign in Ukraine choke the economy's prospects. Citing preliminary data, Russia's finance ministry said on Monday oil and gas revenues were 46.4% lower at 426 billion roubles in January than in the same month last year, which it put down primarily to lower prices for Russia's Urals blend and lower volumes of natural gas exports. Non-oil and gas revenues were 28% lower at 981 billion roubles, attributed to lower domestic VAT and income tax takings.
The president’s domestic successes offer a rebuke to disciples of Reagan: the ‘free market’ has never existed
Turkey's lira hit a record low and its stock markets tumbled after an earthquake which has killed at least 2,200 people dealt another blow to an economy already ravaged by surging inflation.
Voters in the parliamentary seat of one of Labour's most prominent left-wing MPs are least supportive of inheritance tax, a new study has revealed.
Resilient employment data could spur the Fed to keep hiking interest rates, dragging down stocks and raising the risk of a recession, Siegel said.
The BoE needs to 'stay the course' over interest rates, says Catherine Mann.
UK’s shortest-serving prime minister has written 4,000 word essay that continues to defend catastrophic economic policy
Liz Truss is breaking her silence as she blames a "powerful economic establishment" and her own Conservative Party for her downfall.
Liz Truss defended her attempts to revive growth in her first detailed comments since she was forced out of No 10.
Spanish Economy Minister Nadia Calvino on Monday said Spain and Portugal were urging the European Commission to present its proposal on a new fiscal rule for the bloc. EU finance ministers have been debating how to adapt the fiscal framework to the new reality of huge public debt and large investment needs to combat climate change. Current rules force member countries to curb deficits and rein in public debt.
With President Joe Biden preparing to deliver his second State of the Union address on Tuesday, a new ABC News/Washington Post shows many people feel their finances are worsening -- but Secretary of Transportation Pete Buttigieg on Sunday said the president can "make the case" that the economy is back on track. "You make that case by pointing to the reality and recognizing that the story won't tell itself," Buttigieg told ABC "This Week" co-anchor Jonathan Karl. Record job creation, as the president has pointed out, more created in two years on his watch than four years on any other president's watch, and usually, when you have unemployment go down like this, you have inflation go up.
Politicians and the media often present policies as moral duties, when they are nothing of the sort
Inflation could become entrenched as Covid, energy shock and Brexit hit economy, says Catherine Mann
Czech industrial output returned to pre-pandemic levels in 2022, growing 1.7%, data showed, mainly due to car production, which is likely to struggle this year from supply-chain bottlenecks. Despite the growth, the Czech economy entered recession in the fourth quarter for the first time since 2020 as high inflation hit households at the end of the year. "Despite the general optimism in the markets at the start of the year, a number of risks remain and if the industry avoids a downturn this year, it will be a positive outcome," said Jakub Seidler, chief economist at Czech Banking Association.
Inflation levels in the county are some of the worst in the world
Grant Shapps has said Liz Truss had the right priorities but failed as she did not try to deal with the "big structural issues" first. The business secretary said he agreed the UK should have a low-tax economy, as the short-lived prime minister advocated, but inflation and debt needed to be dealt with first. Professor Danny Blanchflower, who was previously on the Bank of England's monetary policy committee, was more damning in his criticism as he said the article was the "most appalling nonsense I've ever read" and rubbished her claim nobody warned her the economy would suffer under her plans.
Global equity markets slid and the dollar firmed on Monday after data showing a resilient U.S. jobs market suggested interest rates will stay higher for longer as central banks face a tough battle to slow inflation amid relatively strong economic growth. The blockbuster U.S. jobs report last Friday sent investors scurrying to load up on dollars to the detriment of emerging market assets and lower-yielding currencies like the yen. Heavyweights Alibaba Group Holding, JD.com Inc and Pinduoduo Inc fell between 2.4% and 4.7%.
December’s GDP was boosted by us all cranking up the heating. Actual economic growth has not looked so weak in decades
LIZ Truss has insisted she was never given a “realistic chance” to implement her radical tax-cutting agenda by her party and by a “powerful economic establishment”.