The Express Tribune’s Post

𝐏𝐨𝐫𝐭𝐟𝐨𝐥𝐢𝐨 𝐚𝐥𝐥𝐨𝐜𝐚𝐭𝐢𝐨𝐧: 𝐍𝐨 𝐒𝐮𝐫𝐩𝐫𝐢𝐬𝐞 𝐢𝐬 𝐚 𝐬𝐮𝐫𝐩𝐫𝐢𝐬𝐞 𝐍𝐞𝐰 𝐃𝐞𝐥𝐡𝐢 (10.06.2024): 𝗣𝗿𝗶𝗺𝗲 𝗠𝗶𝗻𝗶𝘀𝘁𝗲𝗿 𝗡𝗮𝗿𝗲𝗻𝗱𝗿𝗮 𝗠𝗼𝗱𝗶 has distributed portfolios to his colleagues in the 𝗰𝗼𝘂𝗻𝗰𝗶𝗹 𝗼𝗳 𝗺𝗶𝗻𝗶𝘀𝘁𝗲𝗿𝘀. Interestingly, the ministries allocated remain the same to the ministers who are continuing from 2019 except a few. This time round the surprise is that there is no surprise which also makes it clear that the government wants to finish the unfinished work of the last tenure. 𝗡𝗮𝗿𝗲𝗻𝗱𝗿𝗮 𝗠𝗼𝗱𝗶: 𝗣𝗿𝗶𝗺𝗲 𝗠𝗶𝗻𝗶𝘀𝘁𝗲𝗿 𝗼𝗳 𝗜𝗻𝗱𝗶𝗮 and also in-charge of: Ministry of Personnel, Public Grievances and Pensions; Department of Atomic Energy; Department of Space; All important policy issues; and All other portfolios not allocated to any Minister. Know the full story here -https://lnkd.in/gQqKjZAh #GroupOfMinisters #PolicyMakers #UnionMinister #MinisterOfState #CabinetMeeting #IndianMandarins #GovernmentOfIndia #NarendraModi #PortfolioAllocation

The National Assembly Budget and Appropriations Committee, chaired by Kiharu MP Ndindi Nyoro, projects how the proposed Sh3.915 trillion budget will be spent • Sh1.592 trillion will be spent on recurrent expenditures, including salaries and wages, pensions, interest payments and general maintenance and operations • Infrastructure projects will account for Sh727.9 billion under development expenditure • Counties were allocated Sh391.17 billion • Debt repayment under Consolidated Fund Services will gobble Sh1.214 trillion

What a Labour government would mean for your money? On the 22 May, Prime Minister Rishi Sunak called a general election for 4 July. Labour has had a double-digit lead over the Conservatives in the polls for months and the odds seem stacked against Sunak’s party. What areas of financial planning could be affected if Labour get in? Should you use allowances now before it's too late? Pensions - An increase to the State pension age? - Reinstatement of the lifetime allowance? - Reduction of the £60,000 a year pension allowance? Capital gains - Increase to CGT rates? To match income tax rates? ISAs - Simplification of ISAs? - Reform of the Lifetime ISA for first-time buyers? School fees? - Paying for school fees upfront is something to think about, as Labour has stated they may put a VAT tax on fees! #ukgeneralelection #financialplanning

Labour's first budget in 14 years is definitely a big deal. Chancellor Rachel Reeves is set to deliver it on October 30th, and there’s a lot of anticipation around what it will entail. Prime Minister Keir Starmer has mentioned that the focus will be on improving living standards, strengthening the NHS, and rebuilding the country, especially in terms of housing. However, there are also concerns about potential tax increases, particularly on pensions, capital gains, and inheritances. What are your thoughts on the upcoming budget? Do you have any specific hopes or concerns?

📊💰 SDPI Infographic | Budget 2024 - 2025 at a Glance. 📈💼 📊 Key Takeaways: 1. Increased Tax Slab 📈💼   - Tax slab has increased for the salaried class.   - Those earning between 0.6 - 1.2 million will be the most vulnerable. 2. Higher Pensions 💰👵👴   - Pensions remain higher than salaries for the second consecutive year. 3. Interest Payments 📉💸   - Interest payments set at 9,775 billion PKR, which is 51.78% of the total budget. 4. Minimum Wage Increase 💵📈   - Minimum wage rate increased from Rs 32,000 to Rs 37,000. Dr. Abid Qaiyum Suleri Vaqar Ahmed Sajid Amin Javed, Ph.D. Muhammad Umar Ayaz #budget24_25 #Budget2024to2025 #economy #Pakistan

The Sustainable Development Policy Institute (SDPI) has provided a highly insightful budget summary. 💡 Here are my thoughts and brief comparison on Pakistan Budget 2024-25. 1.     How can a country progress when it prioritizes defense over basic and developmental needs? ⛔ When 51.78% of the budget goes toward debt interest payments, 11.24% to Defense Affairs and Services, and 20.01% to the Federal Public Sector Development Programmes (PSDP), pensions, and subsidies (with a major portion going to defense), a total of 83.03% ❌ of expenditures contribute little to the public good. 2.     If we examine the sectoral distribution, only Rs. 28.2 billion (0.14%) and Rs. 103.8 billion (0.55%) are allocated to health and education, respectively, while Rs. 2,122 billion (11.24%) is allocated to defense and services. Ironically, this is only the direct allocation to this institution; additional funds are indirectly allocated under PSDP programs to its allied institutions. ❌ 3.     Consider the example of a developed country like the UK. Despite being an industrialized and self-sufficient nation, their priorities are completely different. Such countries invest in their people and their prosperity, a key factor in their leading status. According to the UK’s 2023-24 budget expenditures, 20% and 11% are allocated to health and education, respectively, while only 6% is allocated to defense. Additionally, they invest in other sectors crucial for societal betterment, such as transport (5%) and social protection (29%). ✅ When it comes to revenue collection, the major contributions come from direct and indirect taxes. Unfortunately, the majority of the burden falls on salaried individuals, while large businesses and enterprises remain largely exempt from such impositions, as has been the case in the past. In contrast, these large businesses receive subsidies on their exports. These subsidies have been in place for a decade, supposedly to boost exports and drive progress in Pakistan, but this outcome has never materialized. Consequently, the poor in Pakistan are becoming poorer while the wealthy become wealthier, leading to crises and lawlessness in the country. To achieve sustainable growth, Pakistan needs to increase exports and invest in its people, particularly in education, health, food security, social services, and legal reform. #BudgetFY202425 #Pakistan #SDPI

"If $5 billion of taxpayers' money is going to subsidize these mostly inefficient organizations, then that's a loss of the people. Even if you tell one-third of the government employees to go home, and still give them salaries and pensions. Even then the government will be saving a lot of money." CEO of NBP Funds, Dr. Amjad Waheed, shares his thoughts on what steps the government can take to better utilize taxpayers' money in his conversation with Rabel Z. Akhund. This clip is taken from "Build It and They Will Come" - a video series by Akhund Forbes powered by VCast. For the full conversation, tune into the Akhund Forbes YouTube Channel: https://lnkd.in/dTRTqRJc - #privatization #government #economy #pakistan #VCastOnline

With a very wet Rishi Sunak yesterday setting the election date for Thursday, 4th July, it's time for UK institutional investors to start thinking about the implications of an incoming Labour government. Luckily I wrote about this recently for MandateWire! The publication of Labour's financial services review made it clear there is a cross-party consensus for UK pensions schemes to invest more in the UK economy. My hunch is the emphasis will move away from venture capital and towards green technology and infrastructure as Labour will be looking for pension money to support their sustainable ambitions. There may also need to be the creation of a pension-fund collective vehicle or a similar government-led institution to persuade schemes to invest in smaller, domestic companies. We should also expect a Labour government to acknowledge the need for higher DC contribution levels as well as continuing work on value for money metrics. What do you think? Do you agree with these predictions? What policy areas do you want a Labour government to focus on? #UKelection #elections #pensions #policy #labour #definedcontributions https://lnkd.in/e4UeH7nT

Can you say higher taxes? All the more reason to lean strategies to save for a tax free retirement! Specially for the next generations who will be responsible for all the governments reckless handouts. The government already calculates their future revenue based on the number of 401K, 457, 403b, and IRAs that are currently in place and will be opened with the next generation of employees. Do you want the government to control your retirement, or do you want the control? Would you like to set your kids or grandkids up to start on the right foot building tax free wealth. Learn about tax strategies the government does not want you to know.

Are your UK assets safe under Labour’s new tax plans? With Labour’s first budget approaching on 30 October, significant changes to inheritance tax and a “review” of pensions are on the horizon. Winter fuel payments are set to be reduced for the elderly, with increasing pressure on the Labour government to cut pensioners’ tax-free cash allowances. Jake McLaughlin, Executive Director at deVere & Partners Portugal, explores the potential shifts and implications as we move into Q4. Now is the time to reassess where your assets are held to ensure they align with the ever-evolving rules and regulations. We've created a quiz to help you gauge how your UK assets may be impacted by the upcoming Labour budget. Click here to be assessed: https://shorturl.at/CpxqM Once the official changes are announced following the October budget, we’ll provide further information to help you stay informed and prepared. Watch the full clip below. . . . #financialplanning #labourgovernment #labour #ukbudget #autumnbudget #expats #ukeconomy