UK Finance Minister Hunt promises to restore faith in the banking system
While emphasising that his boss Liz Truss continue to be in command of the country, new finance minister Jeremy Hunt pledged to restore Britain’s economic confidence by fully reporting for the government’s spending and tax plans. In an effort to save her position as a leader as confidence in her diminished within her own Conservative […]
G7 finance officials endorse principles for central bank digital currencies
G7 finance officials endorsed 13 public policy principles. This is for retail central bank digital currencies. The treasury department announced this through their statement. Group of Seven finance ministers and central bankers said in a joint statement that the innovation in digital money and payments has the potential to bring significant benefits. But also raises considerable public policy and […]
UK’s Sunak calls on G7 to work together
British finance minister Rishi Sunak said that the Group of Seven rich nations should work together more closely. So that it will be easy to tackle supply-chain disruption, that has hampered the economic recovery from this pandemic. Sunak is meeting other finance ministers in Washington on the sidelines of the annual meetings of the International […]
Under new rules, borrowing for investment sensible
British finance minister Rishi Sunak said that the government borrowing to fund investment was a sensible thing. This is to allow under new fiscal rules that he is likely to announce, unlike borrowing for day-to-day spending. He said that borrowing for capital investment that is going to drive up their growth is probably a sensible thing for […]
Fix public finance before cutting taxes
British finance minister Rishi Sunak said that tax cuts could only come once public finances had been put on a sustainable footing. The government had set out plans to raise taxes on workers, employers and some investors. This is for fixing a health and social care funding crisis. Speaking in a hall at the governing […]
G7 finance ministers progress on tax deal
Finance ministers from the Group of Seven said that they made some progress at reaching a joint position on a landmark global corporate tax deal, days before it needs to win over a wider international audience. The U.S. Treasury Department gave a statement that a common understanding was reached on some of the important open issues […]
Sunak wants insurers to explore products
British finance minister Rishi Sunak has directed Treasury officials to explore with the insurance industry new financial products. This would help people, to cover their share of costs for social care. Prime Minister Boris Johnson set out plans to raise taxes on workers, employers and some investors. By this tax they will try to fix a health […]