Another 2 cut in the pound in National Insurance , the National Insurance, the centrepiece of his pre election budget. But figures suggest expected rises in council tax will wipe out any benefits felt by households. Speaking after his statement in the commons today, jeremy hunt said his budget marks a big reduction in the tax bill for ordinary families. Families. What you see is that after a four percentage point cut in National Insurance , there is National Insurance, there is a big reduction in the tax bill for ordinary families , and that for ordinary families, and that is because the economy has turned a corner. Weve stuck to the plan we have. The forecasts are much more optimistic for the economy going forward. And as conservatives, we believe that if we bring down the tax burden that will fire up the economy, create more jobs, more money for pubuc create more jobs, more money for Public Services like the nhs, one more. So what are the key elements of other parts of the Spring Bud
Turned a corner. Weve stuck to the plan we have. The forecasts are much more optimistic for the economy going forward. And as conservatives, we believe that if we bring down the tax burden that will fire up the economy, create more jobs, more money for pubuc create more jobs, more money for Public Services like the nhs, one more. So what are the key elements of other parts of the Spring Budget . Well, the non dom tax status is to be scrapped and replaced by what the chancellor calls a modern residency system. The Great British pub will also get a boost from freeze on alcohol duty child benefit threshold goes up to £60,000 a yean threshold goes up to £60,000 a year, and the £0. 05 cut to fuel dufies year, and the £0. 05 cut to fuel duties locked in for another 12 months. Also in the budget, the vat registration threshold goes up from 85 to £90,000 a year. The pensions regulator will get new powers to make sure people get defined contributions and better value from their investment
Region as a war crime. Storm anthony saw 78 mile per hour winds hit some parts of the uk today, blocking 100 miles of railway between exeter and penzance. About half a months penzance. About half a months worth of rain fell in some areas with a number of people having been evacuated from their homes in North Yorkshire due to flooding. The south west had flooding. The south west had severe road and rail disruption. Weatherjournalist nathan rao explains the conditions wind speeds of this storm. Storm anthony , are expected storm anthony, are expected to be around 75 mile per hour gusts on the coasts and 55mph inland. Its not the strong storm that weve seen, but because of the time of year, the leaves , the trees are all in leaves, the trees are all in full leaf and its holiday season. The schools are off and where its going to be hitting the impact of this storm hitting today is likely to be greater than had the same sort of thing happened later in the year. Pakistans former prime minist
Projection that we present today is very much into parts. Im going to begin with the first part. Starting near term outlook. This chart shows the evolution of Consumer Price inflation and its components since 2018. It shows that inflation has come off the peak in october last year and that it continues to fall over the rest of this year in our near term projection. Thats the piece showed in the shade of part of the chart. This fall can be attributed in large part to a full on contribution from energy. Fuel prices have declined, electricity and gas prices have stabilised, albeit at a higher level. The Dark Orange Bars on this chart show how the contribution from Energy Prices falling and turning negatively in the coming months. Giving off gems price cap on energy and gas bills, we expect inflation to take a further step down in the july dates will be published in two weeks time. That will come down to around 7 at that point. Following a larger step down in 0ctober s data to around about
Us treasury secretary janet yellen called the downgrade arbitrary and said Economic Conditions had improved under the biden administration. The news of the downgrade came after the close of trade on wall street but in asia investors have been pulling out of equities in reaction. Lets look at markets now in asia. Japan is currently down by over 2 . Hong kong not that far behind. This was off the back of yesterday, and most of this week we have seen the sharemarket, certainly wall street and asia having a strong session but this is certainly spooked sentiment. Lets discuss this with tom stevenson, whos an Investment Director at fidelity. Good morning. Janet woody allen saying this is arbitrary. I have her statement janet yellen and she said she strongly disagrees and says it is based on outdated data. That is based on outdated data. That is riuht. Is based on outdated data. That is right it is based on outdated data. That is right. It seems is based on outdated data. That is right. It s