Tag #Fiscal Policy

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abcnews.go.com

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Mar 26, 19:24

CBO Warns of Potential US Government Default in Late 2025

The Congressional Budget Office (CBO) warns the U.S. government may default on its debt as early as August or September 2025 if Congress fails to raise the $36.1 trillion debt ceiling, creating a potential economic crisis.

CBO Warns of Potential US Government Default in Late 2025

The Congressional Budget Office (CBO) warns the U.S. government may default on its debt as early as August or September 2025 if Congress fails to raise the $36.1 trillion debt ceiling, creating a potential economic crisis.

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What is the timeline for potential U.S. government default if Congress doesn't act on the debt ceiling?

The Congressional Budget Office (CBO) projects the U.S. government could default on its debt as early as August or September 2025 if Congress fails to raise the debt limit. The Treasury Department has already reached the current debt limit of $36.1 trillion and is using extraordinary measures to continue borrowing. Failure to act could lead to a government shutdown and economic consequences.

taz.de

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Mar 26, 16:12

German Court Upholds Solidarity Surcharge, Emphasizing Need for Review

The German Federal Constitutional Court upheld the legality of the solidarity surcharge, rejecting a complaint from six FDP politicians. The court acknowledged ongoing financial needs related to reunification, but emphasized the need for periodic review, potentially leading to its future abolishment...

German Court Upholds Solidarity Surcharge, Emphasizing Need for Review

The German Federal Constitutional Court upheld the legality of the solidarity surcharge, rejecting a complaint from six FDP politicians. The court acknowledged ongoing financial needs related to reunification, but emphasized the need for periodic review, potentially leading to its future abolishment...

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What are the immediate consequences of the Federal Constitutional Court's decision on the solidarity surcharge?

The German Federal Constitutional Court rejected a constitutional complaint against the solidarity surcharge, upholding its legality. The court acknowledged continued financial needs stemming from German reunification, but emphasized the surcharge's temporary nature, requiring government monitoring. Failure to abolish the surcharge upon elimination of these needs would render it unconstitutional.

welt.de

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Mar 26, 16:12

German Investment Fund Sparks Controversy Over Allocation

Germany's 500 billion euro special fund, designed to boost investment, has sparked controversy due to its allocation: states and municipalities, despite doing 60% of the investment, receive only 20%, while the federal government controls most of the spending, raising concerns about fairness and long...

German Investment Fund Sparks Controversy Over Allocation

Germany's 500 billion euro special fund, designed to boost investment, has sparked controversy due to its allocation: states and municipalities, despite doing 60% of the investment, receive only 20%, while the federal government controls most of the spending, raising concerns about fairness and long...

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What are the main points of contention surrounding the fund's distribution and how do they reflect broader issues of intergovernmental relations in Germany?

The distribution of funds from the 500 billion euro special fund is disproportionate, with states and municipalities shouldering the majority of investment responsibilities but receiving a significantly smaller share. This raises concerns about fairness and questions the long-term financial sustainability of the plan. NRW's SPD opposition leader advocated for a needs-based allocation to ensure that funds benefit citizens directly.

smh.com.au

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Mar 26, 04:12

2025 Australian Budget: Tax Cuts and Mixed Impacts

The 2025 Australian budget, released March 25th, features two 1% tax cuts, increased funding for nurses and schools, and varying impacts across different demographics, influencing the upcoming election.

2025 Australian Budget: Tax Cuts and Mixed Impacts

The 2025 Australian budget, released March 25th, features two 1% tax cuts, increased funding for nurses and schools, and varying impacts across different demographics, influencing the upcoming election.

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What are the immediate economic and social impacts of the 2025 Australian budget?

The 2025 Australian budget includes two 1% tax cuts, benefiting voters. Increased funding for nurses and schools also features, while some groups experienced less favorable outcomes. The budget's impact will likely influence the upcoming election.

forbes.com

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Mar 26, 04:12

Federal Workforce Shrinks Despite Deficit Concerns

Since 1975, the percentage of federal employees within the total U.S. workforce has consistently declined, reaching 14.8% by July 1975, contradicting the notion that reducing government workers is a significant solution to the national deficit; federal payroll accounts for roughly 5% of total federa...

Federal Workforce Shrinks Despite Deficit Concerns

Since 1975, the percentage of federal employees within the total U.S. workforce has consistently declined, reaching 14.8% by July 1975, contradicting the notion that reducing government workers is a significant solution to the national deficit; federal payroll accounts for roughly 5% of total federa...

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What is the actual trend of federal employment as a percentage of total employment since 1975, and how does this challenge the common narrative surrounding deficit reduction?

The percentage of federal employees in the total workforce has consistently decreased since 1975, dropping from 19.4% to 14.8% by July 1975. This contradicts the common belief that reducing the number of government workers will significantly reduce the deficit. Federal payroll is also a relatively small portion of total federal spending, around 5%.

kathimerini.gr

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Mar 26, 22:10

Greek Public Sector Receives €30 Salary Increase, Totaling €526 Million in 2025

The Greek government announced a €30 across-the-board salary increase for all public sector employees in May 2025, costing €215 million, in addition to other measures such as reduced social security contributions and increased on-call physician compensation, totaling €526 million in 2025 and €2.07 b...

Greek Public Sector Receives €30 Salary Increase, Totaling €526 Million in 2025

The Greek government announced a €30 across-the-board salary increase for all public sector employees in May 2025, costing €215 million, in addition to other measures such as reduced social security contributions and increased on-call physician compensation, totaling €526 million in 2025 and €2.07 b...

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How do the 2025 salary increases compare to the previous year's adjustments?

The €526 million allocated to these 2025 salary increases represents a significant portion of the overall public sector wage bill, totaling €18.8 billion in 2022. These adjustments, coupled with prior increases, equate to approximately 11 percent of annual salary or 1.3 monthly salaries.

theguardian.com

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Mar 26, 01:14

UK Chancellor Announces Additional Welfare Cuts Amidst Defense Spending Increase

Chancellor Rachel Reeves will announce £500 million in additional UK welfare cuts on Wednesday to address a budget shortfall, alongside a £2.2 billion increase in defense spending, prompting concerns about the impact on vulnerable populations and potential future tax increases.

UK Chancellor Announces Additional Welfare Cuts Amidst Defense Spending Increase

Chancellor Rachel Reeves will announce £500 million in additional UK welfare cuts on Wednesday to address a budget shortfall, alongside a £2.2 billion increase in defense spending, prompting concerns about the impact on vulnerable populations and potential future tax increases.

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How do the government's choices regarding welfare cuts and increased defense spending reflect broader policy priorities and the current global context?

These welfare cuts, coupled with a £2.2 billion increase in defense spending, reflect the government's prioritization of national security amidst a changing global landscape, including reduced transatlantic cooperation and trade tensions. The OBR's rejection of initial savings projections highlights the challenges in balancing fiscal responsibility with competing policy goals. The cuts will be detailed in impact assessments published alongside the spring statement.

sueddeutsche.de

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Mar 26, 16:12

German Court Upholds Solidarity Surcharge Until 2030

The German Federal Constitutional Court upheld the legality of the solidarity surcharge (Soli) until at least 2030, rejecting a complaint by FDP members. The court ruled that the tax remains justified to cover costs associated with German reunification, with its current modified form, primarily targ...

German Court Upholds Solidarity Surcharge Until 2030

The German Federal Constitutional Court upheld the legality of the solidarity surcharge (Soli) until at least 2030, rejecting a complaint by FDP members. The court ruled that the tax remains justified to cover costs associated with German reunification, with its current modified form, primarily targ...

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What are the immediate consequences of the Federal Constitutional Court's decision regarding the solidarity surcharge (Soli)?

The German Federal Constitutional Court rejected a complaint against the solidarity surcharge (Soli), ensuring its continuation until at least 2030. This decision upholds the government's power to levy the tax for addressing costs related to German reunification, including financial equalization for eastern states and social welfare programs. The court emphasized that the Soli's elimination requires clear evidence that reunification-related financial needs have been met.

zeit.de

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Mar 26, 13:14

German Court Upholds Solidarity Surcharge Constitutionality

The German Federal Constitutional Court ruled the solidarity surcharge (Soli) constitutional, rejecting a 2020 complaint by six FDP politicians who argued it violated property rights after the end of the second solidarity pact in 2019; the court emphasized the continued need for additional federal f...

German Court Upholds Solidarity Surcharge Constitutionality

The German Federal Constitutional Court ruled the solidarity surcharge (Soli) constitutional, rejecting a 2020 complaint by six FDP politicians who argued it violated property rights after the end of the second solidarity pact in 2019; the court emphasized the continued need for additional federal f...

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What is the immediate impact of the court's decision on the German federal budget and the approximately 13 billion euros in Soli revenue currently projected?

The German Federal Constitutional Court upheld the constitutionality of the solidarity surcharge (Soli), rejecting a constitutional complaint arguing it violated property rights. The court affirmed that the federal government still requires additional funding due to reunification, justifying the Soli's continued existence. The court also stated that such surcharges can be socially tiered, as is the case with the Soli.

bbc.com

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Mar 26, 16:12

UK Growth Forecast Cut to 1% for 2025

The UK's Office for Budget Responsibility (OBR) lowered its 2025 economic growth forecast to 1%, impacting Chancellor Rachel Reeves's economic plans; however, the OBR projects stronger growth in later years due to government reforms, but risks remain due to global economic uncertainties.

UK Growth Forecast Cut to 1% for 2025

The UK's Office for Budget Responsibility (OBR) lowered its 2025 economic growth forecast to 1%, impacting Chancellor Rachel Reeves's economic plans; however, the OBR projects stronger growth in later years due to government reforms, but risks remain due to global economic uncertainties.

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What are the potential future economic scenarios and their implications for the government's ability to meet its fiscal targets and election promises?

The government's ability to meet its fiscal targets remains precarious, dependent on the success of planned reforms and the absence of unforeseen economic shocks. The OBR highlights the risk of significantly reduced fiscal headroom if global economic conditions worsen, potentially necessitating further austerity measures or broken election promises. Continued strong wage growth will be crucial for maintaining household disposable income.

theguardian.com

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Mar 26, 19:23

UK Spring Statement: Welfare Cuts, Slow Growth, and Investment Focus

Chancellor Rachel Reeves's spring statement reveals a 1% economic growth forecast (down from 2%), 250,000 more people in relative poverty due to welfare cuts, and a focus on investment in defense and productivity-enhancing projects amid potential global trade conflicts.

UK Spring Statement: Welfare Cuts, Slow Growth, and Investment Focus

Chancellor Rachel Reeves's spring statement reveals a 1% economic growth forecast (down from 2%), 250,000 more people in relative poverty due to welfare cuts, and a focus on investment in defense and productivity-enhancing projects amid potential global trade conflicts.

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What are the immediate economic consequences of the welfare cuts and reduced growth forecast detailed in the spring statement?

Chancellor Rachel Reeves's spring statement outlines welfare cuts resulting in an additional 250,000 people falling into relative poverty, alongside a lowered economic growth forecast from 2% to 1% due to decreased productivity. The statement also includes plans for increased defense spending and productivity-enhancing projects.

taz.de

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Mar 26, 22:09

German Court Upholds Solidarity Surcharge, Sets Precedent for Future Levies

The German Federal Constitutional Court dismissed a constitutional complaint against the solidarity surcharge (Soli), ruling that it does not violate the Basic Law and clarifying future rules for such supplementary levies; the court cited ongoing reunification-related costs as justification.

German Court Upholds Solidarity Surcharge, Sets Precedent for Future Levies

The German Federal Constitutional Court dismissed a constitutional complaint against the solidarity surcharge (Soli), ruling that it does not violate the Basic Law and clarifying future rules for such supplementary levies; the court cited ongoing reunification-related costs as justification.

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What is the immediate impact of the Federal Constitutional Court's decision regarding the German solidarity surcharge?

The German Federal Constitutional Court rejected a constitutional complaint against the solidarity surcharge (Soli), a tax levied on higher earners to fund costs related to German reunification. The court ruled that the Soli doesn't violate the Basic Law and clarified rules for future supplementary levies. Currently, 90% of taxpayers are exempt, with only those paying over roughly €18,000 in annual income tax also paying the 5.5% Soli.

Showing 385 to 396 of 797 results