Jeremy Hunt, the UK Chancellor of the Exchequer, will announce a major economic package on 17 November as he tries to stabilise public finances and recover credibility lost in the turmoil of Liz Truss’s ill-fated administration.
, two people familiar with the matter said, a move that would hit shareholders and owner-managers of businesses. It’s currently set at £2,000, but reducing it to £1,000 would raise about £455-million a year, according to Treasury calculations.Financial TimesHunt is expected to maintain the foreign aid budget at 0.5% of GDP for another two years, instead of increasing it to 0.7% in 2024-25 as Sunak had previously promised. The UK had spent 0.
Hunt and Sunak have a major decision to make about the bank surcharge, which is an 8% levy on bank profits in addition to the standard corporation tax rate. As chancellor, Sunak had said he would cut the 8% levy to 3%, because corporation tax is due to rise from 19% to 25% and he didn’t want the UK’s banking sector to become uncompetitive., citing unidentified government officials.
Sunak and Hunt plan to reveal a stealth tax raid on pensions later this month, with the pension lifetime allowance set to be frozen for two more years, the Telegraph newspaper reported. A rise would be in line with prices delayed from 2025 to 2027, meaning 2 million savers now face tax charges of up to 55% on their retirement funds by the end of that period, according to expert analysis.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Legendary SA creative John Hunt inducted into Creative Hall of FameHunt has blazed a trail for SA’s creative talent of the future on the global stage
Read more »
WATCH: Leopard spotted trying to hunt two porcupinesA video shows a leopard who tried hunting a porcupine and it didn't work in his favour as the porcupine shed its quills.
Read more »
Tshwane police hunt down suspected cop killerPolice officer Tumelo Losaba and another off-duty officer were robbed in the early hours of this morning at their home in Mabopane by three suspects.
Read more »
Police hunt for suspects following the murder of six people in Eastern Cape - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.Police in the Nelson Mandela Bay Metro are on the hunt for an unknown number of suspects for the murder of six people in New Brighton.
Read more »