Economics
UK to suffer highest inflation in G7 this year, says OECD | Global economy
The UK is expected to suffer the highest inflation among G7 nations this year, the Organisation for Economic Co-operation and Development has said. Amid resurgent food prices, with some retailers blaming the UK government’s £25bn-a-year increase in employer national insurance contributions (NICs) for pushing up costs, the OECD predicts that inflation in the UK will […]
Wealth tax would be deadly for French economy, says Europe’s richest man | Bernard Arnault
Europe’s richest man, the luxury goods magnate Bernard Arnault, has said that a wealth tax that could cost him more than €1bn (£817m) would be deadly for France’s economy. The French founder of LVMH Moët Hennessy Louis Vuitton said in a statement to the Sunday Times that calls for a 2% wealth tax on all […]
UK borrowing rises to worse-than-expected £18bn in August | Government borrowing
The UK government borrowed more than expected last month, official figures show, adding to pressure on the Treasury in the run-up to the autumn budget. Figures from the Office for National Statistics (ONS) showed public sector net borrowing – the difference between public spending and income – rose to £18bn in August, £3.5bn more than […]