#fiscal-policy

#fiscal-policy

"National debt" is a term thrown around quite frequently during political discussions. This often-staggering figure is the amount of money a country owes its creditors. But what or who constitutes as a creditor to a major nation? These can include institutions both overseas and at home, as well as other foreign countries. Though any sort of debt is generally painted in a negative light, national debt is normal and often goes along with a healthy economy; it can even help stimulate growth.

Rumour has it that Rachel Reeves is limbering up for November with a Budget that will make the taxman's quill squeak like a stuck pig. Property, pensions, profits, pasties - all grist to the Exchequer's mill. The Treasury is leaving no stone unturned, no pocket unpicked, no cupboard unopened. The only thing, one suspects, that remains miraculously safe from her fiscal scythe is Larry the Cat's supper.

The Treasury assumes taxes will need to rise by £30 billion, with the Office of Budget Responsibility expected to lower its forecasts for Britain's productivity growth. Each percentage point of growth is worth about £10bn in tax and the OBR is expected to lower its forecast by 0.2%. On top of that the government needs to cover the cost of lost revenues when MPs rebelled against welfare reforms. Finally, higher debt interest payments due to rising gilt yields have added to the burden.

Ireland's fiscal policy looks pro-cyclical right now, which creates immediate risks such as overheating, and longer term risks such as the need to continue with a pro-cyclical fiscal stance in any downturn, thereby magnifying the downturn,

The board, which will meet weekly, is designed to ensure closer coordination between No 10 and the Treasury after criticism of Chancellor Rachel Reeves's first Budget, which drew backlash from business groups over steep tax rises. The new structure will be co-chaired by Torsten Bell, pensions minister and former director of the Resolution Foundation, and Minouche Shafik, Starmer's recently appointed chief economic adviser.

Indonesian President Prabowo Subianto abruptly replaced Sri Mulyani Indrawati as finance minister, risking renewed financial turmoil for Southeast Asia's biggest economy following violent protests in recent weeks against his administration. Purbaya Yudhi Sadewa, who has served as chairman of the Deposit Insurance Corporation since 2020, was sworn in as finance minister at a hastily-arranged ceremony late Monday. He said he is "a market person" who will keep Indonesia fiscally healthy.

In July, French Prime Minister Francois Bayrou proposed eliminating Easter Monday and Victory in Europe Day (May 8) from France's annual list of 11 public holidays. Outrage ensued, with political leaders from across the spectrum attacking the plan. Bayrou said the move would help France ease budgetary pressures. He is not the only one to come up with such a proposal.

Progressives were elated when Assemblymember Zohran Mamdani won an upset victory over former Gov. Andrew Cuomo in the Democrats' New York mayoral primary this past June. The 33-year-old self-described socialist's win "sends a clear message," Jared Abbott in . "A bold populist campaign and a laser-like focus on economic issues can break through to voters, even when insiders, billionaires, and the party establishment line up in opposition.

CFOs from major companies are integrating AI into their operations, using it for sentiment analysis, scenario planning, and resource allocation based on market changes.

Public broadcasting has long been overtaken by partisan activists," said U.S. Sen. Ted Cruz of Texas, insisting there is no need for government to fund what he regards as biased media.

With annual deficits for Bay Area transit agencies approaching $800 million, the scramble is on to find the revenue needed to keep BART and the region's other bus and rail systems operational.

last week's blowout is reminder to the government that gilt market will not accept excess borrowing

There is certainly plenty to hate for all kinds of Republicans. Swing-district 'moderates' upset about the Medicaid cuts in the House-passed bill saw them grow deeper in the Senate.

The Senate tax bill could add nearly $3.3 trillion to US deficits over a decade, raising concerns about its fiscal impact and long-term sustainability.