Hungary vetoes EU aid to Ukraine, bloc postpones decision on funds for Budapest

Hungary against EUR 18 billion EU loan to Kiev, OECD minimum tax Other 26 EU countries will finance Ukraine in a different way Ministers delay decision on funds worth nearly 9% of Hungary’s GDP BRUSSELS, 6 December (Reuters) – Hungary vetoed an €18bn loan to Ukraine from the European Union on Tuesday as spats with … Read more

UK economy shrinking in 2023, risks ‘lost decade’: CBI

LONDON, Dec 5 (Reuters) – The UK economy is on track to contract by 0.4% next year as inflation remains high and companies postpone investment, with dismal implications for longer-term growth, the Confederation of Business Industry Monday. “Britain is in stagflation – with skyrocketing inflation, negative growth, falling productivity and corporate investment. Businesses see potential … Read more

At least 20 states offer one-time rebates, tax credits

(NewsNation) — Amid painfully high inflation and rising interest rates, at least 20 states are offering one-time tax rebates and tax credits to help residents cope with the rising cost of living. Americans are experiencing the worst inflation in four decades. In October, interest rates fell to 7.6% from a June high of 9.1%. Annual … Read more

China is about to win a transatlantic trade war, says EU minister – POLITICO

Press play to listen to this article Voiced by artificial intelligence. China will be the only winner if a subsidy war breaks out between Europe and the United States, warned the Czech minister who chaired a meeting of EU trade ministers on Friday. “A subsidy rally is a very dangerous game,” Jozef Síkela told reporters … Read more

Bank of England raises bank rate by 50 basis points in December, peaking at 4.25% in Q1: Reuters poll

LONDON, Nov 23 (Reuters) – The Bank of England will continue to raise rates to fight inflation, even as Britain heads into a long, if shallow, recession, with consumers facing a protracted crisis in the cost of livelihoods, a Reuters poll of economists found. . Treasury Secretary Jeremy Hunt announced more pain in a fall … Read more

Brussels’ uphill battle to seize Russian assets – POLITICO

The European Commission is exploring legal options to seize Russian state and private property as a way to pay for Ukraine’s reconstruction, according to a document seen by POLITICO. The goal would be to “identify ways to strengthen the tracing, identification, freezing and management of assets as preparatory steps for potential confiscation,” the document said. … Read more

New budget from the Italian government to increase spending to fight the energy crisis

First comprehensive budget of Meloni’s new government Most of the money is earmarked to help tackle high energy bills Energy tax windfall, benefit restrictions expected ROME, Nov 20 (Reuters) – Italy’s new right-wing government plans to announce some €30 billion in new spending on Monday in a budget for next year, aimed primarily at mitigating … Read more

Two million pay 60 percent income tax

Sean McCann, of NFU Mutual, said: “By then, the threshold will not have changed for 18 years, dragging more and more people into the higher marginal tax rate as salaries rise to keep up with inflation.” He added: “Income between £100,000 and £125,140 is effectively taxed at 60 per cent, and if you add in … Read more

Amazon’s MMO players face higher taxes than Jeff Bezos IRL

Image: Gareth Cattermole/Amazon Games/Kotaku (Getty Images) Last week, New worlds patch notes indicated that taxes on Trade Post transactions would rise from 2.5 percent to a whopping 5 percent. The funny thing about this situation is that the MMO is published by Amazon Games, owned by Jeff Bezos. Last year, ProPublic reported that Jeff Bezos … Read more

A higher TFSA contribution limit and lower taxes are among the rare benefits of high inflation

Canadians are about to get a small consolation prize for suffering from the rising cost of living as inflation translates into greater benefits and lower taxes for many. An example? The annual contribution limit for the tax-free savings account will increase to $6,500 in 2023, up from $6,000 in 2022. That’s an additional $500 a … Read more