S&P affirms France at AA-/Stable - sigh of relief. France's parliament has so far failed to approve legislation underpinning the 2025 budget, increasing the probability that the government will have to pass the budget via article 49:3 of the constitution. Marine Le Pen’s far-right party is threatening to bring down the government if her demands on the budget are not met, which include blocking electricity tax increases and raising state pensions. Deadline for the budget bill is December 21st and the minority government from Michel Barnier is under pressure. Despite ongoing political uncertainty, S&P still expect France to comply with the EU fiscal framework and to gradually consolidate public finances over the medium term. Yield on France's 10Y OAT eased to around 2.9%, the lowest level since mid-October. That leaves the 10Y Greece/France yield spread only about 1 bp. But the risk premium over German Bunds is still as wide as 80 bps.
Kenneth Toh’s Post
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This afternoon saw The Chancellor, Rachel Reeves, deliver Labour’s Autumn Budget. To help you understand what it means for you and your business, we’ve put together a round up of the key points - https://lnkd.in/esja3DCa The plans outlined in today’s announcement aim to ‘restore economic stability’ and drive economic growth by investment, with headlines including... 👉 Increases to Employer National Insurance Contributions 👉 Capital Gains Tax rates to rise 👉 Extension of the freeze on the Inheritance Tax threshold 👉 Inherited pensions to be brought into IHT 👉 Minimum wage increases 👉 Introduction of VAT on school fees 👉 Abolition of non-dom tax regime Find out more about today's announcements here - https://lnkd.in/esja3DCa
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𝑼𝒏𝒅𝒆𝒓𝒔𝒕𝒂𝒏𝒅𝒊𝒏𝒈 𝒘𝒉𝒂𝒕 𝒕𝒉𝒆 𝑨𝒖𝒕𝒖𝒎𝒏 𝑩𝒖𝒅𝒈𝒆𝒕 𝒎𝒆𝒂𝒏𝒔 𝒇𝒐𝒓 𝒚𝒐𝒖 Rachel Reeves has delivered her first Budget as Chancellor, and the first Labour Budget in 14 years. Alongside the headline changes to minimum wage, fuel duty and increased spending for public services there were several changes that may affect you, including: ➡ Capital Gains Tax ➡ Inheritance Tax ➡ Pensions ➡ Stamp Duty Land Tax ➡ Non-Dom status ➡ Income Tax and National Insurance Head to our website to read the full breakdown of what the Autumn Budget means for you - Link in comments. #thebudget
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With the UK Labour government’s first Budget scheduled for 30 October, speculation is rife about what it might include. What any changes will mean for everyone is yet to be fully understood and unless there are significant leaks in advance, we won’t know the detail until the day. Most of what we know is based on the Labour manifesto. Whilst it was silent on wealth taxes - Capital Gains Tax (CGT) and Inheritance Tax (IHT) - and investment taxes, there is speculation that changes in these areas could be announced in the Budget: ➡️ IHT relief changes ➡️ Higher tax on capital gains and changes to CGT exemption ➡️ Higher taxes on investment income ➡️ Pensions tax relief changes (although Rachel Reeves has stated that there is no plan to curb tax relief) ➡️ Pensions tax-free allowance changes ➡️ Business Assets Disposal relief changes Read more via my website: https://lnkd.in/dDq77em7 #budget #labour #taxplanning
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𝑼𝒏𝒅𝒆𝒓𝒔𝒕𝒂𝒏𝒅𝒊𝒏𝒈 𝒘𝒉𝒂𝒕 𝒕𝒉𝒆 𝑨𝒖𝒕𝒖𝒎𝒏 𝑩𝒖𝒅𝒈𝒆𝒕 𝒎𝒆𝒂𝒏𝒔 𝒇𝒐𝒓 𝒚𝒐𝒖 Rachel Reeves has delivered her first Budget as Chancellor, and the first Labour Budget in 14 years. Alongside the headline changes to minimum wage, fuel duty and increased spending for public services there were several changes that may affect you, including: ➡ Capital Gains Tax ➡ Inheritance Tax ➡ Pensions ➡ Stamp Duty Land Tax ➡ Non-Dom status ➡ Income Tax and National Insurance Head to our website to read the full breakdown of what the Autumn Budget means for you - Link in comments. #autumnbudget
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With the UK Labour government’s first Budget scheduled for 30 October, speculation is rife about what it might include. What any changes will mean for everyone is yet to be fully understood and unless there are significant leaks in advance, we won’t know the detail until the day. Most of what we know is based on the Labour manifesto. Whilst it was silent on wealth taxes - Capital Gains Tax (CGT) and Inheritance Tax (IHT) - and investment taxes, there is speculation that changes in these areas could be announced in the Budget: ➡️ IHT relief changes ➡️ Higher tax on capital gains and changes to CGT exemption ➡️ Higher taxes on investment income ➡️ Pensions tax relief changes (although Rachel Reeves has stated that there is no plan to curb tax relief) ➡️ Pensions tax-free allowance changes ➡️ Business Assets Disposal relief changes Stay tuned as we plan to keep you updated with the latest changes. #budget #labour #taxplanning
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𝑼𝒏𝒅𝒆𝒓𝒔𝒕𝒂𝒏𝒅𝒊𝒏𝒈 𝒘𝒉𝒂𝒕 𝒕𝒉𝒆 𝑨𝒖𝒕𝒖𝒎𝒏 𝑩𝒖𝒅𝒈𝒆𝒕 𝒎𝒆𝒂𝒏𝒔 𝒇𝒐𝒓 𝒚𝒐𝒖 Rachel Reeves has delivered her first Budget as Chancellor, and the first Labour Budget in 14 years. Alongside the headline changes to minimum wage, fuel duty and increased spending for public services there were several changes that may affect you, including: ➡ Capital Gains Tax ➡ Inheritance Tax ➡ Pensions ➡ Stamp Duty Land Tax ➡ Non-Dom status ➡ Income Tax and National Insurance Head to my website to read the full breakdown of what the Autumn Budget means for you - Link in comments. #autumnbudget #financialplanning
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💸💼 UK Budget Highlights: Key Changes You Need to Know! 💼💸 See the latest budget updates: 🔹 Minimum Wage: Increased to support workers’ incomes. 🔹 National Insurance: Employer contributions are on the rise. 🔹 Carer Allowance: More hours covered for dedicated carers. 🔹 Non-Dom Status removed: Now includes global assets and income in tax scope. 🔹 Inheritance Tax: Freeze extended to 2027, with pensions becoming taxable after. 🔹 Fuel Tax: No change, but short-haul flights see a tax increase. 🔹 Stamp Duty: Second home rates go up from 2% to 5%. 🔹 Private Schools: Tuition now subject to VAT. 🔹 Alcohol, Cigarettes, and Vapes: Tax rates increased. 💡 Stay informed, and take control of your finances! ✨ Follow us at Aila Money for more finance tips and updates! #Budget2024 #AilaMoney #FinanceTips #personalfinance #moneymatters #lifegoals #propertytax #stampduty #minimumwage #tax #vat #privateschool #inheritancetax #pension
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📢 𝐀𝐮𝐭𝐮𝐦𝐧 𝐁𝐮𝐝𝐠𝐞𝐭 𝟐𝟎𝟐𝟒 - 𝐊𝐞𝐲 𝐇𝐢𝐠𝐡𝐥𝐢𝐠𝐡𝐭𝐬! 📢 The Autumn Budget brings essential updates affecting taxes, economic outlook, education, business support, and housing initiatives. Here's a quick breakdown of the key points: 💼 Tax: New Inheritance Tax on pensions, National Insurance rise, and increased Capital Gains Tax. 📈 Economy: State Pension up 4.1%, benefits increase, and minimum wage rise in April 2025. 🏫 Education: 20% VAT on private school fees from Jan 2025. 💡 Business Support: Expanded Help to Save scheme. 🏠 Housing: £500M for affordable homes. Stay informed and prepared with 𝐏𝐡𝐢𝐥𝐢𝐩 𝐍𝐨𝐥𝐚𝐧 𝐀𝐜𝐜𝐨𝐮𝐧𝐭𝐚𝐧𝐭𝐬. We’re here to help you navigate the changes and ensure your finances are aligned with the latest policies. 𝐂𝐨𝐧𝐭𝐚𝐜𝐭 𝐏𝐡𝐢𝐥𝐢𝐩 𝐍𝐨𝐥𝐚𝐧 𝐀𝐜𝐜𝐨𝐮𝐧𝐭𝐚𝐧𝐭𝐬 𝐭𝐨𝐝𝐚𝐲: 🌐 𝐰𝐰𝐰.𝐩𝐡𝐢𝐥𝐢𝐩𝐧𝐨𝐥𝐚𝐧.𝐜𝐨.𝐮𝐤 📧 𝐜𝐨𝐧𝐭𝐚𝐜𝐭@𝐩𝐡𝐢𝐥𝐢𝐩𝐧𝐨𝐥𝐚𝐧.𝐜𝐨.𝐮𝐤 📞 𝟎𝟖𝟎𝟎 𝟎𝟓𝟖 𝟖𝟑𝟑𝟎 | 𝟎𝟐𝟎𝟑 𝟓𝟏𝟗 𝟒𝟒𝟖𝟒 #AutumnBudget2024 #FinancialUpdates #PhilipNolanAccountants #TaxChanges #EconomicOutlook #BusinessSupport #HousingInitiatives #UKBudget #StayInformed #FinancialPlanning
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What does the UK Autumn budget mean to you? Now that the dust has started to settle from the UK’s Autumn Budget, many expats may be wondering how the changes will affect their financial plans, tax obligations, and long-term strategies. 📊 Key Questions for Expats to Consider: - How do the proposed tax changes impact your income, investments, and pensions? - Are there adjustments you need to make to stay compliant with the UK tax system? - How do the projected interest rates impact your property investment plans? - What does the Budget mean for your personal and business finances over the next few years? With 2025 just around the corner, it’s a great time to assess your situation. Are you on top of the latest updates? Have you taken steps to ensure you're ready for any changes coming down the road? 🧐 Stay ahead of the curve and ensure your finances remain in order for the years ahead. If you're uncertain or want clarity on how the Budget affects your expat situation, now’s the time to seek expert advice! Feel free to reach out for a free no obligation consultation. #UKBudget #ExpatFinance #TaxPlanning #FinancialAdvisory #ExpatLife #TaxChanges #Budget2024 #UKTax #GlobalFinance #ExpatTax
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I am having daily conversations with clients who are eager to know what Labour's October budget will bring. So, what do we know? 💰The proposed abolition of the rules around furnished holiday lets, seems certain. 💰Their manifesto promised there wouldn't be changes to income tax or national insurance. Could we see the sneaky return of the health or social care levy regime? 💰Tax relief on pensions could well change 💰Rate increases for capital gains tax and possibly changes around reliefs 💰Alterations around inheritance tax and reliefs Whilst immediate changes are not unheard of, it is more likely changes will take place from next April. This could lead to a surge in deals completing and a nice tax windfall for the new Chancellor. We will be running seminars in the days after budget. Watch this space for more details. Nicholsons Chartered Accountants
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