HM Treasury’s Post

The 2024 federal budget proposes a series of legislative and regulatory measures with a particular focus on middle class and younger generations. Read our article for more on how the proposed actions attempt to make life more affordable. #BLGPublication #FinancialServices

Our Managing Partner, Shri Venkatesh shares his views on the budget expectations in an article published by The Economic Times. Read more at :- https://lnkd.in/ghT-QAeN #knowledgesharing #opinion #unionbudget #budget2024 #energysector #lawfirm #skvlawoffices

There are so many challenges facing our local councils. We can all play a part in helping them to understand how they can reform and transform how services are delivered. Interesting read from the Accounts Commission.

Amit Maheshwari, Partner at AKM Global, has been featured in several leading publications for his insightful analysis of the Union Budget 2024. #UnionBudget2024 #AKMGlobal #ThoughtLeadership #FinancialInsights #ExpertAnalysis #EconomicGrowth #FinanceExpert #BudgetAnalysis #TaxReforms #FiscalPolicy #EconomicOutlook #MarketTrends #InvestmentStrategies #BusinessInsights #EconomicDevelopment #PolicyAnalysis #Budget2024 #FinancialPlanning #ExpertOpinion #AKMGlobalInsights   

On 6th March 2024, Chancellor Jeremy Hunt delivered the #SpringBudget statement, outlining the government's economic plans for the coming year. We highlight the key measures for businesses https://lnkd.in/eckkMH94 For further information: 📞 Call: +44(0) 204 5161 260 📧 Email: info@3cslondon.com 🖱 Visit: www.3cslondon.com #UKBusiness #SpringBudget #TaxReforms #EconomicRecovery #BusinessSupport #FinancialPlanning #BudgetAnalysis #LegalInsights #CorporateLaw #CommercialLaw

Further to my previous post, the economists went before the Treasury committee to give thoughts on the budget. Some interesting points made: 1. "On the OBR numbers, something like 3.5% of national income is going to go on simply servicing that debt each year for the next five years, more than £100 billion a year, which is why the Government need to run a primary surplus going forward to avoid debt spiralling ever-upwards." 2. "According to the OBR, £22 billion of our debt repayments are due to increases in inflation since March, which is about the same as the entire tax raised on national insurance contributions." 3. "Umbrella companies was an issue before with the £5,000 allowance, so that will be worse now with the £10,000 allowance. It was for that reason, among other reasons, that we were previously in favour of getting rid of the allowance altogether." 4. "At one level, most people with money in a pension might consider themselves winners relative to some of the speculation that lump sums might be taxed or relief reduced." 5. "One of the losers here was my forehead, which hit the table when stamp duty was announced to be going up. I was lost for words. You pick the worst tax that we have and increase it. " 6. "The big picture of this Budget has taken us in the wrong direction because it increases the tax on earned income through employer national insurance contributions. It undoes, as it were, some of the benefits that the previous cuts to national insurance contributions did. The big difference between taxing earned and unearned income is the way that national insurance contributions work." 7. "If you look at the tax burden, it has risen to over 38%. It puts us ahead of quite a lot of western economies but below some countries such as France, Germany and those in Scandinavia. We are in the middle, but one thing that we have discussed today is what you get for it. Quite a lot of these countries have a higher level of service in return and you need to spend less of your income to pay for that." 8. "The interesting thing about the latest iteration of this non-dom costing is that the money is raised largely through this temporary repatriation facility. It is almost a one-off source of revenue. It is not quite, but almost. It is playing on the behaviour, as opposed to trying to manage the risk associated with behaviour. It is playing on the desire to bring the money in, rather than worrying about who is going to leave, so it is quite a different tax measure to the one that Jeremy Hunt had not heard of in November 2022. Interestingly, it is also the reason why the fiscal rules were met two years earlier. That chunk of money on that facility makes the difference" 9. "Fuel duty is on its way out. That is going to cost us tens of billions of pounds. It is not going to be quick to replace either, so there is your magic money tree. Do something about taxation of motor vehicles. I did not say it was easy"

Budget 2024 is encouraging in theory, but the real test will be executing these promises, which needs concrete action from all government levels. Learn more here: https://lnkd.in/g6HwSHCb

Bill Alert! US House Bill HJRES 10 - Proposing an amendment to the Constitution of the United States to provide certain line item veto authority to the President. Policy: Economics and Public Finance Status: Bill Introduced Full Details: https://lnkd.in/emHgDCU3 Bill 118 HJRes 10 proposes an amendment to the Constitution of the United States that would grant the President certain line item veto authority. This means that the President would have the power to veto specific provisions or items within a bill, rather than having to veto the entire bill as a whole. The purpose of this amendment is to give the President more control over government spending and to help reduce wasteful or unnecessary expenditu...

Tomorrow Chancellor Jeremy Hunt will deliver his 2024 spring Budget, with an election looming this one could be interesting... EBCam provides a budget summary the day after the Budget is delivered, if you would like to be added to the mailing list please email sbutcher@ebcam.co.uk today. #budget2024 #ebcamemployeebenefits #ebcamfinancialplanning #taxyear #planning #financialplanning #newsandupdates

[NEW REPORT] New chancellor, new rules Rachel Reeves should use her first weeks as chancellor to overhaul how fiscal policy is made – and introduce changes that would give the Labour government a better chance of making progress on its priorities. Read the full report from Thomas Pope, Gemma Tetlow and Olly Bartrum https://lnkd.in/eSfTKcKC #rachelreeves #chancellor #ukgovernment #labourparty #fiscalpolicy #publicfinances #ukeconomy