Tag #Budget Deficit

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kathimerini.gr

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Aug 21, 10:15

US Budget Deficit to Increase by Nearly \$1 Trillion Due to Tax Cuts and Spending

The US Congressional Budget Office projects a \$22.7 trillion cumulative budget deficit by 2035, a \$0.9 trillion increase from prior estimates, mainly due to President Trump's tax cuts and increased spending, partially offset by tariff revenue.

US Budget Deficit to Increase by Nearly \$1 Trillion Due to Tax Cuts and Spending

The US Congressional Budget Office projects a \$22.7 trillion cumulative budget deficit by 2035, a \$0.9 trillion increase from prior estimates, mainly due to President Trump's tax cuts and increased spending, partially offset by tariff revenue.

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How do the projected revenue increases from tariffs affect the overall increase in the US budget deficit?

The upward revision stems from the Trump administration's tax cuts for high-income earners and increased spending, partially offset by projected increased revenue from tariffs. The cumulative deficit increase of \$0.9 trillion reflects the net effect of these policies.

de.euronews.com

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Aug 19, 16:13

Germany's €30 Billion Budget Shortfall: Coalition Faces Showdown Over Tax Hikes

Germany's 2027 budget faces a €30 billion shortfall, sparking conflict between the SPD, proposing tax hikes for high earners, and the Union, opposing this and advocating for spending cuts and tax relief for lower and middle incomes, as per the coalition agreement.

Germany's €30 Billion Budget Shortfall: Coalition Faces Showdown Over Tax Hikes

Germany's 2027 budget faces a €30 billion shortfall, sparking conflict between the SPD, proposing tax hikes for high earners, and the Union, opposing this and advocating for spending cuts and tax relief for lower and middle incomes, as per the coalition agreement.

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What are the immediate implications of the disagreement between the SPD and the Union regarding Germany's €30 billion budget shortfall?

Germany faces a €30 billion budget shortfall in 2027. Finance Minister Lars Klingbeil (SPD) proposed tax increases for high-income earners to address this, but the coalition partner Union rejected this, citing the coalition agreement which prioritizes tax cuts for lower and middle incomes. This disagreement highlights a major political rift.

zeit.de

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Aug 17, 19:16

Germany Considers Higher Taxes for High Earners to Address €30 Billion Budget Gap

German Finance Minister Lars Klingbeil is considering higher taxes on high earners to address a €30 billion budget gap in 2027, despite opposition from coalition partner CSU, who increased spending with policies such as expanding the Mütterrente, lowering VAT in gastronomy, and subsidizing agricultu...

Germany Considers Higher Taxes for High Earners to Address €30 Billion Budget Gap

German Finance Minister Lars Klingbeil is considering higher taxes on high earners to address a €30 billion budget gap in 2027, despite opposition from coalition partner CSU, who increased spending with policies such as expanding the Mütterrente, lowering VAT in gastronomy, and subsidizing agricultu...

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What immediate measures is the German government considering to address the significant budget shortfall, and what are the potential political ramifications?

German Finance Minister Lars Klingbeil is considering higher taxes for high-income earners and the wealthy to address a multi-billion euro budget shortfall. This is despite opposition from coalition partner CSU, who have already increased the budget deficit with policies such as expanding the "Mütterrente" (mothers' pension), lowering VAT in the gastronomy sector, and subsidizing agricultural diesel. Klingbeil emphasizes the need for a comprehensive approach to fill the 30 billion euro gap in the 2027 budget.

dailymail.co.uk

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Aug 14, 10:17

UK Economy Slows to 0.3% Growth Amidst £50 Billion Budget Deficit

The UK's GDP grew by 0.3 percent in Q2 2024, slower than the previous quarter, despite a June rebound driven by services and manufacturing; economists predict subdued growth for Q3, while the government faces a projected £50-51 billion budget deficit.

UK Economy Slows to 0.3% Growth Amidst £50 Billion Budget Deficit

The UK's GDP grew by 0.3 percent in Q2 2024, slower than the previous quarter, despite a June rebound driven by services and manufacturing; economists predict subdued growth for Q3, while the government faces a projected £50-51 billion budget deficit.

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What is the current state of the UK economy and what are the immediate consequences of its recent growth rate?

The UK economy grew by 0.3 percent between April and June, slower than the 0.7 percent growth in the first quarter. This follows a contraction in April and May, with a subsequent rebound in June driven by services, scientific research, and car sales. Economists, however, predict subdued growth for the third quarter.

mk.ru

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Aug 8, 19:18

Russia's Soaring Budget Deficit: Oil Revenue Slump Fuels Concerns

Russia's July budget deficit surged to 1.18 trillion rubles due to a 27% year-on-year drop in oil revenues and advanced January spending, raising concerns about potential tax increases, budget cuts, and National Wealth Fund depletion.

Russia's Soaring Budget Deficit: Oil Revenue Slump Fuels Concerns

Russia's July budget deficit surged to 1.18 trillion rubles due to a 27% year-on-year drop in oil revenues and advanced January spending, raising concerns about potential tax increases, budget cuts, and National Wealth Fund depletion.

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What are the primary causes of Russia's sharply increased budget deficit in July 2025, and what are the immediate consequences?

Russia's July budget deficit reached 1.18 trillion rubles, a sharp increase attributed to lower oil revenues and advanced spending in January. Oil revenue fell 27% year-on-year in July, while non-oil revenues grew 14% year-to-date.

bbc.com

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Aug 6, 04:13

UK Faces £41.2 Billion Budget Shortfall, Tax Hikes Likely

The UK government faces a £41.2 billion shortfall in its borrowing target, prompting the National Institute of Economic and Social Research (Niesr) to recommend tax increases, including council tax reform, to meet Chancellor Rachel Reeves's fiscal rules. This is partly due to weaker economic growth ...

UK Faces £41.2 Billion Budget Shortfall, Tax Hikes Likely

The UK government faces a £41.2 billion shortfall in its borrowing target, prompting the National Institute of Economic and Social Research (Niesr) to recommend tax increases, including council tax reform, to meet Chancellor Rachel Reeves's fiscal rules. This is partly due to weaker economic growth ...

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How did the reversal of welfare cuts and slower-than-expected economic growth contribute to the UK government's budget deficit?

Niesr's analysis highlights a conflict between the government's spending commitments, promises to avoid tax increases, and borrowing limits. The £41.2 billion shortfall stems from lower-than-expected tax revenue due to slower growth and increased spending on welfare after the reversal of planned cuts. Raising taxes aims to reassure investors, potentially reducing borrowing costs.

smh.com.au

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Aug 21, 07:24

Chalmers and O'Brien Clash Over Government Spending at Economic Summit

At a government economic summit, Treasurer Jim Chalmers and Shadow Treasurer Ted O'Brien clashed over government spending, with O'Brien accusing Chalmers of overspending and creating long-term deficits, while Chalmers rejected O'Brien's claims. The disagreement highlights contrasting fiscal manageme...

Chalmers and O'Brien Clash Over Government Spending at Economic Summit

At a government economic summit, Treasurer Jim Chalmers and Shadow Treasurer Ted O'Brien clashed over government spending, with O'Brien accusing Chalmers of overspending and creating long-term deficits, while Chalmers rejected O'Brien's claims. The disagreement highlights contrasting fiscal manageme...

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What are the long-term implications of the current tax system's inequity for Australia's fiscal sustainability and social equity?

The clash foreshadows ongoing political debate about Australia's fiscal trajectory. The differing views on appropriate spending levels and the effectiveness of fiscal rules will likely shape upcoming budget negotiations. Moreover, the concerns raised about the tax system's inequity—favoring wealthier retirees over working households—will likely fuel demands for tax reform, potentially influencing future policy decisions.

sueddeutsche.de

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Aug 19, 04:15

German Union Rejects Proposed Tax Hikes for Wealthy, Creating Budget Impasse

Germany's Union bloc rejects Finance Minister Lars Klingbeil's proposal for tax increases on high earners, citing the coalition agreement's commitment to tax cuts; this creates tension within the coalition government over how to address a projected €30 billion budget deficit by 2027.

German Union Rejects Proposed Tax Hikes for Wealthy, Creating Budget Impasse

Germany's Union bloc rejects Finance Minister Lars Klingbeil's proposal for tax increases on high earners, citing the coalition agreement's commitment to tax cuts; this creates tension within the coalition government over how to address a projected €30 billion budget deficit by 2027.

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What are the underlying causes of the disagreement within the German coalition government regarding tax policies?

The rejection highlights tensions within Germany

zeit.de

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Aug 17, 22:13

Germany Considers Tax Hikes to Address €30 Billion Budget Deficit

German Finance Minister Lars Klingbeil is considering raising taxes on high earners to address a €30 billion budget deficit in 2027, while CSU leader Markus Söder opposes this measure, highlighting a coalition conflict. Klingbeil also called for a ceasefire in Ukraine.

Germany Considers Tax Hikes to Address €30 Billion Budget Deficit

German Finance Minister Lars Klingbeil is considering raising taxes on high earners to address a €30 billion budget deficit in 2027, while CSU leader Markus Söder opposes this measure, highlighting a coalition conflict. Klingbeil also called for a ceasefire in Ukraine.

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How do the differing viewpoints of Finance Minister Klingbeil and CSU leader Markus Söder regarding tax increases reflect broader political and economic debates within Germany?

Klingbeil's proposal highlights the tension between fiscal responsibility and social equity in Germany. His comments, particularly targeting high-income individuals' calls for increased work hours while advocating for social programs, underscore a broader debate on economic fairness and social welfare models. The €30 billion deficit in 2027 is part of a larger €172 billion gap projected between 2027 and 2029.

mk.ru

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Aug 10, 16:16

Russia's Economy Slows Amidst Budget Deficit and Low Unemployment

Russia's economy shows slowing GDP growth (1.8% in Q2 2025), high inflation (8.8% as of August 4th, 2025), record-low unemployment (2.2% in June 2025), and a substantial budget deficit exceeding 4.9 trillion rubles in the first seven months of 2025, raising concerns about a potential recession in 20...

Russia's Economy Slows Amidst Budget Deficit and Low Unemployment

Russia's economy shows slowing GDP growth (1.8% in Q2 2025), high inflation (8.8% as of August 4th, 2025), record-low unemployment (2.2% in June 2025), and a substantial budget deficit exceeding 4.9 trillion rubles in the first seven months of 2025, raising concerns about a potential recession in 20...

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How do factors such as the ruble's exchange rate and high interest rates impact the Russian economy and budget?

The strong ruble, contributing to lower inflation, has constrained export revenues, widening the budget deficit. This, along with high interest rates (18%) and geopolitical uncertainties, creates risks. The slowing GDP growth and stagnation across various sectors suggest a potential recession.

theguardian.com

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Aug 6, 04:13

UK Faces £41.2 Billion Budget Deficit, Forcing Tax Hikes

The UK faces a £41.2 billion budget deficit, prompting Chancellor Rachel Reeves to consider tax increases to meet fiscal targets, according to the National Institute of Economic and Social Research (NIESR).

UK Faces £41.2 Billion Budget Deficit, Forcing Tax Hikes

The UK faces a £41.2 billion budget deficit, prompting Chancellor Rachel Reeves to consider tax increases to meet fiscal targets, according to the National Institute of Economic and Social Research (NIESR).

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How do external factors, such as global trade and economic conditions, contribute to the UK's current fiscal challenges?

Several factors contribute to the deficit, including slower economic growth, higher inflation, and increased debt interest payments, exacerbated by global trade disputes and past policy reversals. NIESR's analysis suggests that a 5p income tax rise could close the gap. However, a broader tax review is recommended for greater stability.

dailymail.co.uk

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Aug 6, 04:13

£50 Billion UK Budget Deficit Requires Drastic Fiscal Measures

The UK faces a £50 billion budget deficit by 2029/30, necessitating significant tax increases or spending cuts according to the National Institute of Economic and Social Research (NIESR); this is due to Labour's lack of an economic plan upon entering government, and failure to address this will have...

£50 Billion UK Budget Deficit Requires Drastic Fiscal Measures

The UK faces a £50 billion budget deficit by 2029/30, necessitating significant tax increases or spending cuts according to the National Institute of Economic and Social Research (NIESR); this is due to Labour's lack of an economic plan upon entering government, and failure to address this will have...

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What immediate fiscal actions must the UK Chancellor take to address the projected £50 billion budget deficit by 2029/30?

The UK faces a £50 billion budget deficit by 2029/30, requiring significant tax increases or spending cuts, according to the National Institute of Economic and Social Research (NIESR). This deficit wipes out a previously projected £9.9 billion surplus and necessitates drastic fiscal measures to meet the Chancellor's fiscal rules. Failure to address this will have severe consequences for the UK's economic stability.

Showing 13 to 24 of 163 results