Launched by a controversial prime minister, the program will distribute digital money to low-income citizens. http://f-st.co/z3uoE8A
Fast Company’s Post
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Federal Deficits: Debunking Government Myths #DeficitMyth #PublicMoney #FederalBudget #EconomicTruth Discover how debunking deficit myths can help Australia create a compassionate political system using its monetary sovereignty. https://lnkd.in/g4pnwh5y
Federal Deficits: Debunking Government Myths
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🌍 In Europe, new governments are facing an immense challenge as they grapple with soaring public debt and constrained fiscal options. A recent article highlights the complexities ahead for countries like France and the UK, where new leaders are elected on promises of change amidst economic stagnation and rising borrowing costs. 📉 Public debt in France and the UK has surged to multidecade highs, reaching alarming levels of GDP. Despite these fiscal pressures, there's a disconnect between political promises for increased spending and the harsh reality of necessary fiscal restraint. Economists caution that tough decisions—such as spending cuts or tax hikes—are inevitable, yet politicians have not adequately prepared their constituencies for these measures. 📈 France's new parliamentary landscape, including a potential hung parliament, adds further uncertainty to its economic outlook. Meanwhile, in the UK, despite historic electoral wins, the Labour Party faces accusations of avoiding critical fiscal choices, raising concerns about sustainable economic management in the post-pandemic era. #Europe #EconomicPolicy #PublicDebt #FiscalResponsibility #GovernmentEconomics
Crushing Debts Await Europe’s New Leaders
wsj.com
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ELECTION SMOKE AND MIRRORS: THE VITAL ISSUES BEING OVERLOOKED A general election is a key part of democracy. It lets people choose leaders they trust and get rid of those who’ve lost their confidence without any chaos. Right now, the British general election isn't hitting the mark. It should be sparking important discussions about big challenges the UK faces, like boosting economic growth, dealing with an ageing population, increasing investment, funding the green transition, enhancing defence spending, and creating a fairer tax system. These are big issues that need real solutions, not just the same old approach. But none of the major political parties are really addressing these concerns. The IMF points out two major problems: a big drop in labour productivity growth and improbable fiscal forecasts. To stabilise debt, we’ll need higher taxes and spending cuts—there's no way around it. The Labour party is likely to win and will need to tackle these issues head-on. Their manifesto talks about stability and planning reforms, which is good, but like other parties, it lacks concrete plans for delivering public services and fixing fiscal problems. The IMF criticises Labour’s vague spending promises and minimal tax increases. While vague promises might win votes, they don't prepare the public for the tough actions needed. If politicians keep dodging the truth, public distrust will only grow, hurting our democracy. Voters deserve honesty about the difficult times ahead, but they’re not getting it. #programexecution #planning #estimating #honesty #election
The absence of honesty in UK election will undermine democracy itself
ft.com
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Senior Temporary & Interim Recruitment Consultant at REED Specialist Recruitment Accountancy and Finance
Britain’s next government faces a significant challenge as a thinktank warns of a £33bn hole in public finances. The Resolution Foundation cautions that without addressing this gap, severe austerity measures may be inevitable. The current debate on funding election pledges is deemed detached from reality, with promises reliant on challenging cuts. Stay informed: [Link to the full article here]. #UKGovernment #PublicFinances #Austerity #ElectionPromises
UK faces £33bn hole in finances or return to austerity, thinktank says
theguardian.com
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As the UK approaches a general election, it is crucial for households to be aware of how the proposed policies from major political parties could affect their financial health. In our latest analysis, we explore the economic consequences of the manifesto pledges from the Labour Party, the Conservative Party, the Green Party, and the Reform UK Party.
Financial Outlook Under Different UK Political Parties: An Analysis from a Debt Advice Perspective - Adcroft Hilton
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Wealth Advisor | Enrolled Agent | NFLPA Registered Player Financial Advisor. Wealth Management for business owners, professionals and families
The fact that not taxing Social Security benefits would have such a negative impact on the Social Security and Medicare trust funds should be concerning. These trust funds are already funded through taxation via the payroll tax and the self-employment tax. Apparently, these taxes are not enough which means these programs are likely mismanaged. No amount of taxes will fix mismanagement of funds, so the problem is not taxes, nor is the solution tax more. The solution is to change how the funds for Social Security and Medicare are used and how they are managed.
Exempting Social Security benefits from income tax would increase the budget deficit by about $1.6 trillion over 10 years and accelerate the insolvency of the Social Security and Medicare trust funds. https://hubs.ly/Q02L62fm0
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What a shame Torons got it so badly wrong from 2010 (when ignoring Keynes) and by granting a 'lazy boys' EU Referendum - rather than fight UKIP at the ballot box, on economic FACTS. What a shame this Nation voted by the tiniest margin (against most informed advice, back then!) to decouple itself from the world's largest market - worth £700 billion of bilateral trade to the UK, EACH YEAR. What a crying shame! And now we hear of difficult decisions 'ahead' - as public finances 'worsen'. Plus ca change! These 'difficult decisions' come after a catalogue of past gross mistakes over close to 14 years. Toronic mistakes! We now need a complete change of government in the UK, so that the (still inevitably 'difficult' decisions, for sure!) may at least be taken by people who care about the entire Country, not just about their own donors and personal interests.
Jeremy Hunt warns of ‘difficult decisions’ ahead as public finances worsen
msn.com
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Let it be so. Freedom from government over reach and money grab
FUSS and MUNRO: Canadians should decide what to do with their money — not politicians and bureaucrats
calgarysun.com
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🇬🇧 Priviledged Pratts are back while even frontline workers are sinking further into debt! Britain’s Posh causing Britain’s Poor… 2010 to date and NO CHANGE! Experts think it’s politicians who’ll need more resolve if the population’s #householddebt is to be brought under control. But will it?! With minds worlds away from the #costoflivingcrisis that they have created… https://lnkd.in/gvuSzQi3 the situation on a national debt level ripped out of control on the Tories watch, the worst since 1960s. Public sector net debt amounted to 96.6 % of gross domestic product #GDP in the UK during the 2021/22 financial year, the highest it has been since the early 1960s. After the end of the Second World War, government debt in the UK gradually fell, before a sharp increase is visible in the late 2000s at the time of the global financial crisis. Financial abuse that we know is unjustified given the facts we know now about #Tory #austerity #brexit #covid Statista’s chart shows it best. https://lnkd.in/gF8YBzbX #nationaldebt Time’s up #gtto #justdoit #generalelection NOW
David Cameron joins Britain's poshest members' club
standard.co.uk
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