Tag: Taxes
How will Trump’s Second Presidency Affect the Economy?
Inflation and Tariffs One of the main concerns for voters is how the president will deal with inflation. Trump has promised to ‘defeat’ inflation in the coming years, yet has also made a firm stand on raising tariffs for imported goods. He proposes a 10% tariff on all goods entering the US, with a 60%…
Inflation 101: Understanding the Rising Cost of Living
Inflation is a topic that pops up in economic news and everyday conversations alike, but it can be tricky to fully understand. Simply put, inflation refers to the rate at which the prices of goods and services rise, which in turn erodes the purchasing power of money. This affects individuals, businesses, and economies in various…
Labour’s £40bn Tax Hike: What the Autumn Budget Means for You
Chancellor of Exchequer Rachel Reeves delivered a speech highlighting the key points in the new budget for the last fiscal quarter of 2024. The announcement marks the first major financial statement released by the new Labour government led by Sir Kier Starmer. For further information not covered in this summary, the government have detailed the…
Labour Uncover £22B Nightmare left behind by Conservatives
Newly appointed Chancellor of Exchequer Rachel Reeves disclosed a £22B ‘spending-hole’ left behind by the Conservative government, following their electoral defeat to Labour on July 4th. The overspend was discovered during the first financial audit under Reeves’ governance. A frustrating combination of failures to meet various investment pledges, shortfalls in public service demands, and exorbitant…
Rishi Sunak Releases £17B Manifesto: Up to the job?
Rishi Sunak has released a 76-page manifesto detailing present and future policies that the Conservative government intends to implement. The main cause for both approval and dispute was Sunak’s promise for a £17B overall nationwide tax reduction. Key Details The manifesto pledges that National Insurance will reduce from 8% to 6%. The Torys will also…
Taxes 101: Your Essential Guide
Take a Quiz on this article: Taxes are an inevitable part of life, yet they often remain shrouded in mystery for many people. Whether you’re a seasoned taxpayer or just starting in the workforce, understanding the basics of income taxes is essential for managing your finances effectively. We will break down the fundamentals of income…
