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Trump Tariffs and UK Budget Impact
Analysis of the impact of potential Trump tariffs and the recent UK budget on the UK economy.
English
United Kingdom
PoliticsEconomyUs PoliticsLabour MarketTradeInternational TradeTariffsBudget
National Institute Of Economic And Social Research (Niesr)Bank Of England
Donald TrumpAhmet KayaStephen MillardRachel ReevesAdrian Pabst
- How does the UK budget affect the poorest households?
- The poorest 15% of UK households face an additional £600 yearly tax burden due to the government's decision to freeze income tax allowances and thresholds.
- Why is the UK particularly vulnerable to Trump's proposed tariffs?
- The NIESR's analysis shows that the UK's open economy makes it particularly vulnerable to Trump's proposed tariffs, resulting in significant negative economic consequences.
- What specific concerns does the NIESR raise regarding the UK budget?
- NIESR expressed skepticism about the budget's long-term growth impact, highlighting that infrastructure spending merely compensates for previous cuts and that more action is needed.
- What would be the impact of Donald Trump's proposed tariffs on the UK economy?
- A Trump presidency with new tariffs would severely impact UK growth, potentially halving it and leading to higher inflation and interest rates, according to the NIESR.
- What is the NIESR's assessment of the recent UK budget's impact on long-term economic growth?
- The recent UK budget, while boosting demand, may not sufficiently address long-term growth challenges and includes tax decisions that could negatively impact businesses and low-income households.