$353 million in tax credit advances for ‘Downtown’ Chesterfield projects

CHESTERFIELD — A special committee on Monday recommended $353 million in tax breaks for $3 billion in commercial and residential development that could reshape part of Chesterfield. The committee voted 9 to 3 to recommend that City Council fund the tax increase for two developments poised to create a “downtown” Chesterfield with thousands of apartments … Read more

Brussels’ uphill battle to seize Russian assets – POLITICO

The European Commission is exploring legal options to seize Russian state and private property as a way to pay for Ukraine’s reconstruction, according to a document seen by POLITICO. The goal would be to “identify ways to strengthen the tracing, identification, freezing and management of assets as preparatory steps for potential confiscation,” the document said. … Read more

New budget from the Italian government to increase spending to fight the energy crisis

First comprehensive budget of Meloni’s new government Most of the money is earmarked to help tackle high energy bills Energy tax windfall, benefit restrictions expected ROME, Nov 20 (Reuters) – Italy’s new right-wing government plans to announce some €30 billion in new spending on Monday in a budget for next year, aimed primarily at mitigating … Read more

Two million pay 60 percent income tax

Sean McCann, of NFU Mutual, said: “By then, the threshold will not have changed for 18 years, dragging more and more people into the higher marginal tax rate as salaries rise to keep up with inflation.” He added: “Income between £100,000 and £125,140 is effectively taxed at 60 per cent, and if you add in … Read more

UK turns page on ‘Trussonomics’ with budget plan

New government wants to restore confidence in the British economy Hunt warns of more pain now that recession is likely underway Budget with tax increases and cuts Britain, the only G7 nation with an economy still below pre-Covid size LONDON, Nov 17 (Reuters) – Chancellor of the Exchequer Jeremy Hunt will bury Britain’s failed “Trussonomics” … Read more

Amazon’s MMO players face higher taxes than Jeff Bezos IRL

Image: Gareth Cattermole/Amazon Games/Kotaku (Getty Images) Last week, New worlds patch notes indicated that taxes on Trade Post transactions would rise from 2.5 percent to a whopping 5 percent. The funny thing about this situation is that the MMO is published by Amazon Games, owned by Jeff Bezos. Last year, ProPublic reported that Jeff Bezos … Read more

A higher TFSA contribution limit and lower taxes are among the rare benefits of high inflation

Canadians are about to get a small consolation prize for suffering from the rising cost of living as inflation translates into greater benefits and lower taxes for many. An example? The annual contribution limit for the tax-free savings account will increase to $6,500 in 2023, up from $6,000 in 2022. That’s an additional $500 a … Read more

Exclusive: Yellen warns of the need to lift the debt ceiling

NUSA DUA, Indonesia, Nov 12 (Reuters) – With the US Congress looming divided, Treasury Secretary Janet Yellen warned that lawmakers’ failure to raise the legal limit on US debt posed a “massive threat” to US creditworthiness and the functioning of US financial markets. Yellen told Reuters in an interview in New Delhi on Friday that … Read more

UK’s Hunt says he needs to raise taxes to restore the economy

The British Chancellor of the Exchequer says tax increases are coming ‘You must do what is right for the country’ – Hunt New forecasts show a recession is coming Priority is reducing inflation – Hunt LONDON, Nov 12 (Reuters) – Britain’s Chancellor of the Exchequer Jeremy Hunt said next week’s budget plan will need to … Read more

America’s Tai faces tough battle to allay fears of EU trade wars – POLITICO

Press play to listen to this article PRAGUE – US trade envoy Katherine Tai has traveled more than 4,000 miles to avoid a transatlantic trade war over electric vehicles, but her EU counterparts indicated on Monday they would be a tough mob to win. The growing feud hinges on US legislation encouraging consumers to “buy … Read more