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The Latest Breaking News from Budget

Watch as Office for Budget Responsibility holds press conference after Hunt’s autumn statement

Watch as the Office for Budget Responsibility holds a press conference following Jeremy Hunt’s autumn statement.

The Independent UK

Trades union councils protest council cuts in run up to Scottish Budget

TRADE councils in Scotland are set to stage demonstrations against council cuts in the run up to the Scottish Budget.

The National (Scotland)

Johnson’s first budget leans on one-time revenue, hopes for federal, state help to avoid tough choices down the road

Mayor Brandon Johnson’s first budget is expected to sail through the Chicago City Council on Wednesday. It’s balanced in part with $786.5 million in one-time revenues. The search for new revenue sources has been punted to a Council subcommittee.

Chicago Sun-Times

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Liz Truss’s ‘growth commission’ to publish alternative Budget

Report will come just over a year after former prime minister’s real Budget caused financial chaos

The Independent UK

State’s capex declined over 7% so far in 2023-24

Tamil Nadu has reduced capital expenditure by 7.37% in 2023-24 (till Aug) compared to 2022-23. The State had budgeted ₹44,366 crore for capital expenditure and spent 22.44% of it. Govt is monitoring capital works to spur growth and manage revenue deficit at budgeted level of ₹37,540 crore. Debt to GSDP…

The Hindu

Brandon Johnson’s budget address reveals how Chicago plans to address crime, migrant crisis and property taxes

The mayor presented $16.6 billion 2024 city budget to the City Council today. Here’s how he wants to use taxpayer money.

Chicago Sun-Times

Budget a ‘fundamental reform’ of public finances, Irish finance minister says

The Government insists the 14 billion euro budget package revealed on Tuesday balances current needs with the future wellbeing of the economy.

The Independent UK

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Net direct tax collections up 21.8% to ₹9.57 lakh crore

India's direct tax collections rose 21.8%, surpassing over half of Budget estimates. Refunds of up to ₹5,000 not restricted. Tax demands from past being raised, some due to tech shift. 7.27 cr returns filed, 7.15 cr verified. Gross collections up 18%, PIT revenues 29.5%. Net revenues 31.85%.

The Hindu

Three 150-euro energy credits and mortgage income relief planned for Budget 2024

The government has signalled it will spend cautiously – despite expecting a surplus of 10 billion euro this year.

The Independent UK

State’s total revenue receipts increased marginally in 2023-24

TN's revenue receipts up 5.47% to ₹92,967.33 cr till Aug. SOTR increased to ₹59,616.01 cr, revenue deficit at ₹17,614.98 cr. Assembly session to commence on Monday, with focus on Kalaignar Mahalir Urimai Thittam & borrowings of ₹18,000 cr in Q3.

The Hindu

Calls grow louder for Angamaly-Balaramapuram parallel rail line

Federation of Sabari Railway Action Council urges State govt. to extend Angamaly-Sabarimala rail line from Erumely to Balaramapuram, Thiruvananthapuram. New line to link industrial & tourism hubs, transport 850 truckloads of goods daily & bring tourist destinations on rail map. Railways have done feasibility survey for extension. ₹100 cr allocated…

The Hindu

A year after the mini-Budget ‘doom loop’, UK gilts look a lot less stressed

City Voices: Rather than a huge shift to de-risk by locking in the higher yields on offer this year, LDI schemes have been more focused on getting their houses in order

Evening Standard

Fiscal plans fly as overseas voting opens

The Labour Party has released its fiscal plan showing how its election promises and the ongoing cost pressures in the public sector would fit within Budget allowances.

Newsroom.co.nz

Study finds free childcare reform has ‘little benefit’ to poorer families

The Institute for Fiscal Studies said the measures announced in the Budget fail to prioritise inequalities in children’s development.

The Independent UK

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The Independent UK

Tax cuts ‘virtually impossible’, says Jeremy Hunt in major blow for Tory right

Chancellor insists he still faces ‘very difficult decisions’ at Budget despite better economic news

Roll Call

Balanced-budget plan unveiled by House Republicans - Roll Call

House Republicans released a long-delayed budget blueprint Tuesday that promises to bring the federal budget into balance over a decade.

Newcastle Herald

What the Hunter thinks of a 'slash and burn' first Labor budget

Despite four Hunter ministers, the region gained little funding.

The Hindu

Milma adopts growth-oriented Budget for 2023-24

Milma's 2023-24 Budget passes with rev. of ₹680.50 cr & exp. of ₹679.28 cr. Allocations for factories, HQ exp. & initiatives to ensure remunerative returns to farmers. Meeting also discussed dairy scenario & identified issues to be addressed with govt. support.

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The Hindu

Letters to The Editor — September 16, 2023

Readers letters to The Hindu’s Letters to The Editor

Roll Call

Arrington sets House budget resolution markup next week - Roll Call

The House Budget panel plans to mark up a fiscal 2024 budget resolution Sept. 20, ending months of skepticism about whether it would happen.

The Hindu

Kalaignar Magalir Urimai Thogai is a massive, one-of-its-kind, data driven scheme: T.N. Finance Minister Thangam Thennarasu

Tamil Nadu Finance Minister Thangam Thennarasu in an interview with The Hindu spoke about issues related to GST, and managing revenue deficit and borrowings.

Chicago Sun-Times

Chicago facing 2024 budget shortfall of $538 million — more than a third of it tied to migrant crisis

Mayor Brandon Johnson didn’t take his predecessor’s word for it when Mayor Lori Lightfoot said she’d left the city in great financial shape, with an $85 million shortfall. And it’s a good thing the new mayor was skeptical, his top aides told some City Council members in a budget briefing.

Newsroom.co.nz

Recession to end but Govt surplus delayed a year

The pre-election forecasts offer a rosier picture of the economy, with wages growing ahead of inflation, but tougher times for the Government’s own books.

Chicago Sun-Times

Comptroller candidate grilled, then approved, by City Council committee

Ald. Ray Lopez asked Chasse Rehwinkel about social media posts made while campaigning for candidates who want to cut the Chicago Police Department budget.

The National (Scotland)

'No decisions' made yet on tax rises at next Scottish Budget, says Shona Robison

FINANCE Secretary Shona Robison has said there have been “no decisions” made yet regarding raising taxes at the next Budget.

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