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Public Finances

All articles tagged with #public finances

IMF warns Iran conflict could push global debt toward postwar highs
economy1 month ago

IMF warns Iran conflict could push global debt toward postwar highs

The IMF warns that escalating Iran-related conflict could push global debt toward 100% of GDP by 2029 as energy and food prices rise, raising borrowing costs and slowing growth. It urges targeted, temporary support for those most affected and avoiding new borrowing to protect fiscal space, warning that missteps could destabilize debt markets and spark a global recession, with the UK highlighted for market sensitivity to fiscal slippage.

via The Guardian|
#economy#energy-prices#global-debt
Badenoch and Starmer Clash and Leave PMQs with Turbulence
politics5 months ago

Badenoch and Starmer Clash and Leave PMQs with Turbulence

During PMQs, Badenoch and Starmer clashed over the Budget, with Badenoch calling for Reeves's resignation and criticizing the government's handling of public finances, while Starmer defended the Budget and criticized welfare policies like the two-child benefit cap. The session also covered issues like the resignation of the OBR chair, child poverty, water supply crisis, and Ukraine war support.

via BBC|
#badenoch#budget#pmqs
UK Inflation Surges to 2.3% Amid Rising Energy Costs
economy1 year ago

UK Inflation Surges to 2.3% Amid Rising Energy Costs

UK inflation rose to 2.3% in October, surpassing expectations and marking an increase from September's 1.7%. Core inflation also edged up to 3.3%. The rise in inflation could influence the Bank of England's interest rate decision in December, although another inflation report is due before then. The recent Autumn budget, which includes significant tax increases, may further impact inflation and economic growth. The global economic environment, including potential trade tariffs from the US, adds to inflationary pressures.

via CNBC|
#bank-of-england#economic-outlook#economy
"UK Election Campaign Overshadowed by Rising Debt Concerns"
politics2 years ago

"UK Election Campaign Overshadowed by Rising Debt Concerns"

The Institute for Fiscal Studies (IFS) warns that the next UK government will face significant financial challenges, with potential tax increases or public service cuts needed to manage high debt and low economic growth. Both Labour and the Conservatives have committed to reducing debt, but the IFS stresses the need for an open discussion on how to achieve this. The IFS highlights that without a dramatic improvement in growth, tough financial decisions will be necessary, impacting voters' fortunes.

via BBC.com|
#economic-growth#election-campaign#politics
"IMF Chief Warns of 'Tepid Twenties' and Urges Policy Course Correction"
economics2 years ago

"IMF Chief Warns of 'Tepid Twenties' and Urges Policy Course Correction"

The International Monetary Fund has projected global growth of about 3% for this year, warning of a potentially lackluster decade ahead without a course correction. IMF's managing director, Kristalina Georgieva, highlighted weak global economic activity, rising debt, and the disproportionate impact of the pandemic on vulnerable countries. The anticipated growth rate is slightly above last year's projection but below the historic average, with strong activity in the United States and emerging markets cited as contributing factors. The IMF and World Bank will discuss these issues at their upcoming spring meetings amid global conflicts threatening financial stability.

via Fortune|
#economic-outlook#economics#global-economy
European Governments Brace for the Bill as Germany's Budget Crisis Threatens Stability
economy2 years ago

European Governments Brace for the Bill as Germany's Budget Crisis Threatens Stability

European governments, including Germany, are facing the consequences of their large stimulus measures as they grapple with the need to rein in spending and manage public finances. Germany, in particular, is facing a crisis as its political leaders adjust their budget and rethink their strategy following a ruling from the country's top court.

via Bloomberg|
#economy#european-governments#germany
Jeremy Hunt's Tax Cuts: A Controversial Solution to Britain's Financial Gap
economy2 years ago

Jeremy Hunt's Tax Cuts: A Controversial Solution to Britain's Financial Gap

British Chancellor of the Exchequer Jeremy Hunt plans to rely on savers to fill the gap in public finances by increasing the amount expected from National Savings & Investments (NS&I) in the Autumn Statement. NS&I has seen a surge in deposits due to higher interest rates, prompting the savings provider to raise its net funding target. The increased reliance on savers may reduce the need for government debt issuance, with economists suggesting NS&I's funding target could be raised by at least £5bn. The government aims to announce a reduction in UK gilt sales alongside modest tax cuts to boost investment and economic growth.

via Yahoo Finance|
#autumn-statement#economy#jeremy-hunt