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The Latest Breaking News from Fiscal Policy

The Finance Ministry is considering new measures to encourage spending in a bid to maintain the Thai economic recovery, according to Pornchai Thiraveja, director-general of the Fiscal Policy Office (FPO).

Bangkok Post

Jeremy Hunt’s economic plan turns the clock back to austerity

UK chancellor’s tightening of fiscal policy will lead to weaker growth and a deeper recession

The Guardian - UK

Dominant Hunt refuses to rule out new U-turn on Truss taxes

Chancellor of the Exchequer Jeremy Hunt said nothing is “off the table” when asked if he will abandon more of Prime Minister Liz Truss’ tax cut plans, confirming that his is now the leading government voice on U.K. fiscal policy.

Tribune News Service

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Thailand urges unity on fiscal, tax policy to fight looming stagflation

Thailand has urged the adoption of international cooperation on fiscal policy and tax measures to help safeguard small-sized businesses and low-income people from looming stagflation.

Bangkok Post

Pound falls sharply against dollar after Bank confirms bond-buying end date

Sterling falls more than a cent to below $1.10 after Andrew Bailey tells pension firms they have ‘got to get this done’

The Guardian - UK

Explainer-What do Lula and Bolsonaro propose for Brazil fiscal policy?

Both of Brazil's presidential candidates, President Jair Bolsonaro and former President Luiz Inacio Lula da Silva, have proposed changes to the constitutional spending limit that defined fiscal policy in Latin America's biggest economy for the past six years.

Reuters

Explainer-What do Lula and Bolsonaro propose for Brazil fiscal policy?

Reuters

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A provincial sales tax is the solution to Alberta's fiscal roller-coaster

With a new Alberta premier taking office in October and a general election required by the end of May 2023, fiscal policy may become a wedge issue between Alberta’s United Conservative Party and the NDP.

The Conversation

FPO: Unnecessary waivers, deductions need scrapping

The Fiscal Policy Office (FPO) is to ask the Finance Ministry to consider winding down unnecessary measures related to tax waivers and tax deductions, in the wake of a decline in net government revenue as a proportion of GDP, says a ministry source who requested anonymity.

Bangkok Post

Farm income drives domestic consumption

Higher income for farmers in the first eight months of this year is one of the key factors contributing to the growth in domestic consumption, according to the Fiscal Policy Office (FPO).

Bangkok Post

The UK's economic turmoil doesn't have to be ours

Lack of coordination between monetary and fiscal policy is hurting the UK economy and threatening a global currency crisis. What might that mean for NZ?

Newsroom.co.nz

Only a U-turn by the government or the Bank of England will calm UK financial markets

The Bank of England has promised to take action to calm the financial market mayhem that has followed the announcement of major tax cuts by the UK government.

The Conversation

China's Yuan falls to lowest level since 2008 global financial crisis

Like many other world currencies, China's onshore and offshore Yuan both fell against the dollar on Wednesday, increasing the pressure on the People's Bank of China to intervene directly. The drop is a result of the strong US dollar following the Federal Reserve's rate hikes, coupled with Beijing's more dovish…

France 24

State revenue collection beats target

The government's revenue collection during the first 11 months of fiscal 2022 surpassed its target by 117 billion baht, according to the Fiscal Policy Office.

Bangkok Post

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Reuters

Investors must wait for Brazil election for fiscal clarity -Credit Suisse executive

Investors seeking clarity about the future of Brazil's fiscal policy from 2023 on must wait for the outcome of October's presidential election, said the chief investment officer of Credit Suisse for Latin America.

The Guardian - UK

Patrick Minford: maverick economist who inspired Truss and Thatcher

Brexiter tells Guardian that new PM understands need for tax cuts and orthodoxy must be challenged to revitalise economy

Bangkok Post

Govt relief schemes 'inject B5.73bn'

Over 20 million people have taken part in the latest instalments of the government's financial relief programmes in the first three days of September, says Pornchai Thiraveja, director-general of the Fiscal Policy Office.

Bangkok Post

Geopolitical strife threatens recovery

Thailand's economy has recovered after the country's reopening but geopolitical conflict remains a threat, according to a senior official at the Fiscal Policy Office (FPO).

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Bangkok Post

Latest co-payment phase gains positive response

Phase 5 of the co-payment scheme, which opened for the first day of registration on Friday, saw an overwhelming response from the public, said Pornchai Thiraveja, director-general of the Fiscal Policy Office.

Evening Standard

Rishi Sunak says Truss’s tax-cutting plans will create ‘sugar rush boom’

Rishi Sunak said rival Liz Truss’s plans for vast tax cuts would “put fuel on the fire” of the inflation problem and create a “sugar rush boom”.Veteran political journalist Andrew Neil challenged the Tory leadership hopeful over his plans to tighten fiscal policy in a time when “the global economy…

The Independent UK

Sunak says Truss’s tax-cutting plans will create ‘sugar rush boom’

The Tory leadership hopeful denied his plans to tighten fiscal policy would lead to a recession in a crunch interview with Andrew Neil.

The Hindu

The poor state of India’s fiscal federalism

The concerns of the founding fathers — addressing socio-economic inequities — are being forgotten in today’s fiscal policy

Bangkok Post

FPO maintains 2022 growth forecast at 3.5%

The Fiscal Policy Office (FPO) has kept its forecast for economic growth this year at an average of 3.5%, underpinned by a recovery in both the tourism sector and domestic consumption, according to the office's director-general Pornchai Thiraveja.

The Conversation

International expert to review Reserve Bank as deputy governor says households in 'fairly good position' on rate rises

An international expert on monetary policy, Carolyn Wilkins, is one of a three-member panel that will conduct a broad review of the Reserve Bank, including its objectives and the interaction of monetary and fiscal policy.

Bangkok Post

Apec to focus on loans for SMEs

The Asia-Pacific Economic Cooperation (Apec) finance ministers' meeting will focus on giving small and medium-sized enterprises (SMEs) better access to loans via digital channels, says Fiscal Policy Office director-general Pornchai Thiraveja.

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