Vaping products will come in october 2026 and the existing tax on tobacco will increase. The chancellor says thats in order to maintain the financial incentive to choose over smoking. Windfall tax on the profits of energy firms draw will be extended into 2029 even that was previously scheduled to end in 2028. Increase in flight duty for Business Class tickets, non dom tax free dream on People Living overseas and didnt that it will be replaced with new rules from april 2025. Bigger picture the uk economy now. The obr, office of budget responsibility predicts the economy is going to grow and add 1. 9 we are currently on a technical recession. Inflation rate forecast to fall below 2 target this year but the underlying debt. But the underlying debt, excluding Bank Of England debt, is forecast to be 91. 7 of gdp this year, rising to 92. 8 next year. The government also kept a freeze on alcohol duty, there is a lot to chew over and we have tried to bring up to date on the main headlines but
Known as Super Tuesday as millions of People Choose who they want as their preferred president ial candidate. Will vernon reports. Another triumph for trump. The former president cruised to victory on Super Tuesday, securing his position as the unassailable frontrunner in this race. They call it Super Tuesday for a reason. This is a big one. And they tell me, the pundits and otherwise, that theres never been one like this, theres never been anything so conclusive. Officially he hasnt won the nomination yet. But with results like these, total victory seems certain. As expected, President Joe Biden also swept the board in the democrat primaries. Nikki haley was trounced by donald trump. Its not clear whether she will continue her campaign. President ial election day is still eight months away. But Many Americans already seem wary of the campaign, and of an increasingly polarised political climate. We cant hear any other voices but those two now. I mean, nikki haley is still out there and
in the uk are at an all time high as country. its lowest ever now we have the round up of the business news and one of those headline stories you are concentrating on. welcome to the programme. yes, on course for stronger than expected recovery. that is the assessment from the international monetary fund on the state of the global economy in its latest world economic outlook update. the imf predicts that global growth of 3.1% this year and slightly higher growth in 2025. it also says that inflation is declining faster than expected because many supply chain problems caused by the pandemic have now been resolved. the imf has, however, issued a warning to the uk government not to cut taxes any further and suggested that treasury percent planned spending cuts for this year were unrealistic. earlier i spoke to the imf s chief economist and i asked him what his concerns were over the uk cutting those taxes. ~ , ., taxes. well, first, for the uk, we are seeing taxes. well, first,
and kurt schoffer, who runs the biggest company in the world, with a majority of autistic staff, more than 400 in his company alone. also on the show, the big boss of one of the world s largestjobs companies, recruit holdings, which operates in 60 countries, joins me to talk about how to fill the skills gap and how to spot lies on people s job applications. wherever you rejoining me from around the world, once again, a big hello, and a warm welcome to the show. you know, it may never have been a more challenging time for companies. and while rising costs and interest rates certainly dominate the headlines, companies themselves say that being able to employ enough of the rightly skilled people is one of the biggest problems they face. in particular, they need more people with technical and communication skills. you know, in america, the unemployment rate is atjust under 4%, and almost 70% of companies say they have trouble recruiting all the staff they need. that s11i% more th
over 3% in december. we spoke to investment manager shanti kelemen. she told us the fall in shop prices is a positive development, as the bank of england weighs up when it can start cutting the cost of borrowing. i think it s absolutely good news. i mean, one quirk of psychology is that even though inflation isn t going up because prices arejust sort of constant, it might not feel a lot better because the price is still higher than it was two years ago. with the changes and how people are expecting the future to unfold, the interest rates people pay our mortgages have already fallen a bit, similarly the rates the government is paying for borrowing are also coming down a bit from last year, so that in itself will provide a little bit of relief, even before the bank of england changes interest rates. but will that downward trend in shop price inflation continue? we all know about the supply chain disruptions in the red sea. and the picture could be further complicated from toni