Zohran Mamdani Pushes for Millionaire Tax to Boost NYC Revenue
Zohran Mamdani plans to push forward with increasing taxes on New York City millionaires to address fiscal issues.
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Tax Rises
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UK Budget 2025: Focus on Inflation, Tax, and Economic Growth
Lower UK productivity forecasts by the OBR are expected to lead to increased government borrowing, which may force the government to raise taxes to meet its fiscal rules, especially since productivity growth has been weak since 2010 and has been downgraded from optimistic forecasts, making tax hikes more likely in the upcoming budget.
Reeves' Budget Plans Spark Debate on Tax and Inflation Strategies
Dharshini David reports that Chancellor Reeves is preparing for a challenging Budget with significant tax increases likely to address inherited debt and economic issues, though these may impact growth and public services, raising questions about the overall effectiveness of the measures.
Reeves signals potential income tax hike ahead of UK budget
UK's Chancellor Rachel Reeves signals upcoming tax increases in her next budget to avoid austerity, citing economic challenges like high debt and inflation, and emphasizing responsible fiscal policies to protect public services and reduce debt.
Reeves Signals Possible Tax Increases Ahead of Budget
Chancellor Rachel Reeves is expected to announce a Budget focused on fairness and opportunity, with likely tax increases despite previous pledges not to raise income tax, VAT, or National Insurance, as she aims to address economic challenges and meet fiscal rules.
Russian Attacks in Ukraine and Gaza Result in Multiple Casualties
BBC Verify reports on potential UK tax increases in autumn to meet borrowing rules, verifies a Gaza aid truck incident resulting in casualties, and confirms a Russian attack in Zaporizhzhia causing casualties, amidst ongoing conflicts and economic challenges.
UK Economy Declines in April Amid Trump Tariffs and Tax Hikes
The UK economy contracted by 0.3% in April due to global trade tariffs imposed by the US and domestic tax increases, leading to declines in industrial and service output, with economists predicting weaker growth for the rest of 2025.