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The Latest Breaking News from Tax Cuts

UK Treasury chief signals tax cuts and a squeeze on welfare benefits are on the way

U.K. Treasury chief Jeremy Hunt says the government can afford to lower some taxes now that inflation is falling

The Independent UK

Jeremy Hunt signals he will cut taxes in budget amid criticism it jars with planned benefits squeeze

Chancellor thought to be considering inheritance tax cut – despite being warned it would be ‘stupid’

The Independent UK

Chancellor has 'headroom' for £15bn worth or tax cuts of new spending at Autumn Statement, analysis finds

But that doesn't include the cost of extending temporary schemes that are already in place, which is likely to take up most of the £15bn

Evening Standard

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Argentina to vote in crucial presidential elections amid mounting economic woes

Nicolas, a 20-year-old student in Buenos Aires, faces an economic crisis reflected in 143% inflation & increased poverty. Javier Milei, an economist advocating tax cuts & dollarisation, is in a runoff against the Minister of Economy. People are deprived of basic needs & must be resourceful to survive. Lionel Vargas…

The Hindu

Jeremy Hunt says tax cuts for businesses a ‘priority’ as he hints at benefits squeeze

Chancellor says businesses take ‘priority’ ahead of autumn statement

The Independent UK

Autumn Statement: Government denies it's punishing the poor amid tax cut talk

Inheritance tax rumours swirl ahead of Jeremy Hunt's budget statement on November 22

Evening Standard

We could make most Australians richer and still save billions – it’s not too late to fix the Stage 3 tax cuts

The Albanese government is about to have to make a really important decision.

The Conversation

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Rachel Reeves plans pensions reform as part of Labour’s growth plan

Shadow chancellor also backs planning changes and industrial strategy, but no ‘unfunded tax cuts’

The Guardian - UK

Texas voters gave retired teachers raises and approved new infrastructure funds as most constitutional amendments passed

Voters approved a massive property tax cut and several other measures, but refused to raise the mandatory retirement age for judges.

The Texas Tribune

Scrap stage-three tax cuts to fight inflation rather than cut infrastructure funding, Queensland says

Deputy premier Steven Miles says it’s ‘too late’ to cancel projects and any effect on demand is likely to be years away

The Guardian - AU

How to Save Yourself and Your 401(k) From Rising Taxes

Taxes will go up if provisions in the Tax Cuts and Jobs Act are allowed to sunset, but there’s still time to lock in lower taxes on your 401(k) savings.

Kiplinger

The ‘low hanging fruit’ on London businesses’ Autumn Statement wishlist

Next month’s Autumn Statement is unlikely to be one filled with tax cuts and lavish spending plans

Evening Standard

Crossbenchers urge Labor to have ‘courage’ on changes to resources tax and stage-three tax cuts

David Pocock, Monique Ryan and Dai Le support revamping taxes to raise more revenue to address cost-of-living crisis

The Guardian - AU

Democrats Say They're Fighting Inequality. But Many of Their Policies Favor the Rich.

Over the last several years, they have worked nonstop to ease the tax burden of their high-income constituents.

Reason

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The Independent UK

Rishi Sunak ‘confident’ of tax cuts as rumours of election next autumn increase

But the Prime Minister said it remained the ‘right economic policy’ to focus on delivering his pledge of halving inflation.

The Guardian - AU

No plan for nuclear waste despite Aukus submarine deal, Senate hears – as it happened

Australia is planning to obtain nuclear-powered submarines, but has nowhere to dispose of radioactive waste

Salon

The perfect recipe for fascism

Professor Gavriel D. Rosenfeld on the toxic stew of tax cuts to rich people while placating racist scapegoating

The Guardian - UK

Rishi Sunak faces backbench discontent a year into his time in No 10

PM under pressure from Tory right for more tax cuts and from moderates for policies to tackle cost of living crisis

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The Independent UK

Rishi Sunak ‘considering tax cuts to win back lost Tory voters’ after byelection defeats

The threshold for paying the 40 per cent higher rate of income tax could be raised in the 2024 spring budget, according to one report

The Guardian - UK

UK government borrowing almost £20bn lower than expected

Despite figures for six months to end of September, analysts play down chance of pre-election tax cuts

The Independent UK

UK economy in ‘horrible bind’ as recession looms with no room for tax cuts, say experts

Britain in for ‘protracted period of high taxes and tight spending’, says Institute for Fiscal Studies

The Guardian - UK

Tories have no room for tax cuts despite £52bn a year stealth rise, says IFS

UK stuck between weak economic growth and risk of persistently high inflation, says thinktank

The Independent UK

UK economy in ‘horrible’ bind with no room for tax cuts as recession looms – IFS

Britain is heading towards a recession next year as borrowing costs stay elevated, the IFS warned in its latest Green Budget.

The Conversation

UK bonds have hit a 25-year high – here's what that means for the economy

It’s been more than a year since the UK economy was thrown into crisis after then-prime minister Liz Truss suggested making a wealth of unfunded tax cuts in her September 2022 mini-budget. But a recent bond market sell-off has now sent borrowing costs rocketing again, pushing the bond market even…

AAP

Tax cuts not 'all or nothing' in mooted middle ground

The Australia Institute has proposed changes to looming tax cuts to reduce bracket creep and improve the budget bottom line.

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