UK Government Drops Income Tax Hike Plan, Markets React
Update: 2025-11-14
Description
On November 14th, British financial markets experienced volatility due to speculation about upcoming tax decisions. The Labour government, led by Prime Minister Keir Starmer, is reportedly reconsidering plans to raise income taxes in an upcoming budget announcement. This uncertainty has caused investor anxiety, impacting the value of the British pound and government bonds. The pound dropped by 0.4% against the dollar, and the interest rate on the governments ten-year bond increased by 0.13 percentage points. Experts note that the budget is crucial for market confidence in the UK governments financial plans. The government is struggling in opinion polls and has been reviewing updated economic forecasts, which could potentially reduce the need for a significant tax increase.
The Daily News Now! — Every city. Every story. AI-powered.
Hosted on Acast. See acast.com/privacy for more information.
Comments
In Channel
Download from Google Play
Download from App Store
United States00:00
00:00
1.0x
