Prasanth Nair’s Post

See our webinar on April 17th, where we will explore how the 2024 Canadian Federal Budget will impact Canadians, businesses, and the economy!

UK Budget 2024: The £22 Billion Black Hole—What It Means for You! The UK Budget 2024 has arrived, with a significant £22 billion gap raising questions about spending cuts, tax changes, and economic adjustments. Explore what the Autumn Budget under Labour's leadership means for individuals, businesses, and the UK economy overall. Discover key takeaways, predictions, and how these potential changes might impact your finances and future. Stay ahead of the curve with the latest insights on the Autumn Budget 2024. #UKPropertyAccountants #UKPA #UKBudget2024 #AutumnBudget2024 #LabourBudget2024 #Budget2024 #UKEconomy #EconomicUpdate #TaxChangesUK #AutumnBudgetPredictions2024 #UKFinancialNews

Ahead of Chancellor Rachel Reeve's budget announcement tomorrow, Ipsos has revealed a timely report finding that the public are pessimistic about the state of the British economy. People are worried about the future - half of Britons feel more fearful than hopeful about how labour's budget will impact public services and their personal finances. This aligns with the findings of our recent report - 'Nothing About Us Without Us' which shows that young people are deeply concerned about the economy. Over half of young people in Britain believe the most important issue facing them and their family is the cost of living crisis (62%) and one in three say its the economy in general (32%). Hopefully tomorrow's budget can provide Britons, especially the young, some more reassurance and confidence in the future. Additionally, we can find some hope in Ipsos' findings- that show people trust Labour with the economy more than the Conservatives. https://lnkd.in/e9ar9NHT

This Budget was interventionist - aiming to boost growth in critical areas and ease the cost of living. Read the full report here. #2024budget #nab #economy

[Blog] Last week, the Minister of Finance presented a national budget that will help us to achieve more rapid and inclusive economic growth while supporting our developmental goals.   Over the last five years, we have taken several actions to get our economy back on track. We have implemented far-reaching reforms in the energy, logistics, water and telecommunications sectors to address the binding constraints on growth. We have created a stable macroeconomic environment to encourage investment. And we have expanded public employment and social protection to create jobs and provide an income for those who are unemployed.   This budget takes us further along the path of reviving our economy and rebuilding our institutions, in at least three important ways. https://lnkd.in/duWDRVFq

The Labour Party’s first budget has just been released by Chancellor Rachel Reeves. So what does this mean for UK citizens, businesses, and, of course, the UK economy? The Dods UK Political Intelligence Consultants have put together a dedicated report that includes: An in-depth, sector-by-sector breakdown of all major budget announcements A comprehensive overview of stakeholder reactions across key industries Download our exclusive report to understand how these measures will impact businesses, individuals, and the UK economy at large. 🔗 https://lnkd.in/e8ivmD6d #UKBudget

For months, both the Prime Minister and the Chancellor have warned about the need for “tough” decisions to be taken at the Budget. The Government, the Chancellor said, has to contend with upward pressures on the public finances, such as a £22bn “black hole” in the public finances, unfunded compensation schemes, and the need to invest in public services. In this context, the Chancellor of the Exchequer, Rachel Reeves, delivered the first Budget of the new Labour Government. The Budget, which contained £40bn of tax rises, was the second biggest tax-rising Budget on record. It also represented the largest increase in taxes at a Budget since 1993. The Office for Budget Responsibility (OBR) confirmed that the tax burden would reach “a historic high of 38 percent of GDP” by 2029/30. The Dods UK Political Intelligence Consultants have put together a dedicated report on this budget, that includes: An in-depth, sector-by-sector breakdown of all major budget announcements A comprehensive overview of stakeholder reactions across key industries Download our exclusive report to understand how these measures will impact businesses, individuals, and the UK economy at large. 🔗 https://lnkd.in/e8ivmD6d

Economic update: examining pre-Budget indicators Ahead of the new government's first Budget, interest rates are on hold despite the economy stagnating for the second successive month. Read the full article from the ICAEW via the link in the comments... #accountancyrecruitment #budget #economy

Just a reminder of the Federal Budget's relationship to the economy. If $2 trillion were actually cut from the budget, the economy would shrink immediately by 7.5%. When multiplier effects kick in as those paid by the Federal government stop spending, then the economic decline would only get worse. The decline in income and other tax revenue and automatic stabilizers such as unemployment and food assistance would also kick in, so the deficit reduction would be something less than the budget cuts.