UK chancellor Rachel Reeves has put a £40bn tax increase at the heart of a plan to fix the country’s “broken” finances and public services, with business and the wealthy bearing the brunt of the biggest Budget tax hike in a generation. Reeves also announced a sharp increase in borrowing to fund an extra £100bn of capital spending over the parliament, in a massive expansion of the state that will define political battle lines for years to come.
As part of its move to abolish the non-dom regime, the government said it would end the use of offshore trusts to shelter assets from UK inheritance tax, ignoring warnings that such a move could spark an exodus of rich people from the UK. The chancellor added that, instead of the scheme, the UK would introduce a new “internationally competitive” residence programme. Reeves announced an immediate increase in capital gains tax, with the higher rate rising from 20 per cent to 24 per cent.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Herkunft: LBCNews - 🏆 75. / 59 Weiterlesen »