Latest News

U.K. Cuts Taxes as Flagging Economy Falls Into Recession

U.K. Cuts Taxes as Flagging Economy Falls Into Recession By Investing.com

Breaking News

‘;

Economy 19 minutes ago (Sep 23, 2022 09:58)

© Reuters.

By Geoffrey Smith 

Investing.com — The new U.K. Government unveiled a suite of measures to cut taxes and stimulate growth as fresh data showed the economy sliding into recession at the end of the third quarter.

Chancellor of the Exchequer Kwasi Kwarteng stood up to announce a widely trailed “mini-budget,” minutes after a closely watched survey showed both services and manufacturing activity contracting in September.

The composite U.K. purchasing managers index compiled by S&P Global fell to 48.2, its lowest since February 2021, from 48.9 in August. The manufacturing PMI ticked up surprisingly to 48.5, but the services PMI, which covers a much larger section of the British economy, slumped to 49.2 from 50.9.

U.K. Cuts Taxes as Flagging Economy Falls Into Recession

UK to introduce sales tax free shopping for overseas visitors – KwartengBy Reuters – Sep 23, 2022

LONDON (Reuters) – Britain will introduce sales tax free shopping for overseas visitors to boost the retail sector, finance minister Kwasi Kwarteng said on Friday. “We have…

Britain outlines tax incentives for new investment zonesBy Reuters – Sep 23, 2022

LONDON (Reuters) – British finance minister Kwasi Kwarteng outlined what he called an “unprecedented set of tax incentives” for businesses in newly-announced investment zones,…

UK to tighten strike rules – KwartengBy Reuters – Sep 23, 2022

LONDON (Reuters) – British finance minister Kwasi Kwarteng said on Friday that the government would force transport companies to maintain a minimum level of service during strike…

Our Apps



Terms And Conditions
Privacy Policy
Risk Warning

© 2007-2022 Fusion Media Limited. All Rights Reserved.

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.

You may also like

Leave a reply

Your email address will not be published.

More in Latest News