The Reserve Bank of India's record ₹2.87 lakh crore dividend transfer provides crucial fiscal support to the Indian government, aiding spending on infrastructure, subsidies, and welfare programs amidst global economic turbulence and rising costs.
Malaysia’s plan to stop wealthier drivers from enjoying cheap subsidised petrol has left Prime Minister Anwar Ibrahim facing a politically fraught question: how to define “rich” without punishing households already squeezed by higher living costs. The issue has sharpened as the Middle East energy shock strains government finances, forcing authorities to weigh fiscal discipline against the risk of angering middle-class voters in a car-dependent country. Anwar said the government had agreed in...
The Tony Blair Institute has urged Labour to scrap the pensions triple lock, calling it 'unaffordable' as Britain's ageing population drives up costs. The thinktank warns state pension spending will rise from 5% to 7.8% of GDP by 2070, adding £85bn annually. It proposes a pre-election pact to end the policy and replace it with a 'lifespan fund'. Chancellor Rachel Reeves has said the government will not drop the triple lock despite mounting financial pressure from Middle East conflict and inflation.
Six Scottish parties have released manifestos for the May 7 Holyrood election, featuring pledges on price caps, tax cuts, housing, net zero scrapping and public services. Critics highlight unfunded commitments, fiscal credibility issues and constitutional limits.
Beijing is intensifying its enforcement against tax evasion, extending its reach into consumption taxes, which have been positioned as a critical source of stabilising local government finances that have been hit hard by the nation’s prolonged property crisis. Earlier this month, the State Taxation Administration (STA) released details of eight tax-violation cases involving sectors such as gold jewellery, alcoholic beverages and refined oil. The enforcement actions spanned multiple regions,...
UK government borrowing fell to £132bn in the year to March, the lowest since 2022-23 and slightly below forecasts. However, analysts warn the outlook is deteriorating due to the Iran war's impact on energy prices, with borrowing expected to rise to around £145bn this year. The IMF predicts the UK will be hardest hit among advanced economies, cutting growth forecasts to 0.8%.
UK government borrowing fell to £132bn in the year to March 2026, the lowest since 2022-23 and £19.8bn less than the previous year. However, analysts warn borrowing could rise to £145bn this year due to the energy price shock from the Iran war, which has disrupted the Strait of Hormuz and threatens to increase inflation and require additional household support estimated at £20bn. The IMF predicts the UK will be the hardest hit among advanced economies, cutting growth forecasts to 0.8%.
UK government borrowing fell by £19.8bn to £132bn in the year to March, slightly below the £132.7bn predicted by the Office for Budget Responsibility. However, analysts warn borrowing will rise to around £145bn this year due to the energy price shock from the Iran war, with the IMF predicting the UK would be hit hardest among advanced economies. Interest payments are expected to increase by £12bn, with potential additional borrowing needed for household energy support.
