Fiscal

Fiscal

Federal Reserve renovation overruns hit $2

The Federal Reserve's inspector general found no criminal law violations in the headquarters renovation, a project now costing over $2 billion and facing

Fiscal

IPPR quantifies Brexit trade loss from missing EU mutual

A new IPPR report estimates the UK is losing between £3.7bn and £6.5bn annually in EU exports due to post-Brexit regulatory barriers, with motor vehicles

Fiscal

CBO Projects Debt Could Reach 222% of GDP by 2056

The Congressional Budget Office warns that interest rates 1 percentage point above its baseline would push federal debt to 222% of GDP by 2056, with

Fiscal

US household income inequality fell in 2023

A Congressional Budget Office report shows income inequality decreased in 2023, driven by a 5% rise for the lowest quintile and a 9% drop for the top 1%

Fiscal

OECD, IMF, IIF warn of rising debt and borrowing cost risks

Three major international bodies have issued warnings about escalating global debt levels and soaring borrowing costs, highlighting unsustainable fiscal

Fiscal

UK faces rising debt costs and growth

The IMF and OECD warn of ballooning UK debt costs and downgraded growth, urging fiscal action as Chancellor John Healey prepares his first Budget next

Fiscal

MPs defend OBR against political attacks as 'shooting

A Treasury committee report rejects calls for major reform of the Office for Budget Responsibility, defending its independence.

Fiscal

IMF chief warns rich nations must cut debt

IMF Managing Director Kristalina Georgieva urges advanced economies like the UK and US to prioritize debt reduction and fiscal consolidation, citing rising

Fiscal

Bank of England to sell gilts directly to Treasury, pausing

The Bank of England plans to sell its government bonds directly to the Treasury, pausing its quantitative tightening program until a final decision in

Fiscal

UK Retail Sales Unexpectedly Rise in August, Defying

Retail sales volumes in Great Britain increased by 0.5% in August, contrary to expectations of a fall. The Office for National Statistics reported the rise, which was supported by summer weather and back-to-school shopping.

Fiscal

U.S. Trade Deficit Widens to $88.6 Billion in July 2026

The U.S. Trade deficit in goods and services expanded sharply to $88.6 billion in July, a $17.4 billion increase from the revised June figure, driven by

Fiscal

Bank of England's QT policy could cost Treasury £120bn

The Bank of England's quantitative tightening policy may cost the Treasury up to £120 billion, with £17 billion paid last year to cover losses.

Fiscal

Self-Flying Planes Advance in Cargo and Crop

Companies are developing autonomous fixed-wing aircraft for agricultural and cargo delivery, with some already in limited commercial use.

Fiscal

UK 30-year gilt yield hits 5.89%, highest

UK long-term government borrowing costs have surged to a 28-year high, complicating the new government's upcoming Budget.

Fiscal

CBO: Small Business Health Insurance Report

A new Congressional Budget Office report finds nearly half of small business employees lack employer-sponsored health coverage, with enrollment shifting.

Fiscal

CBO Projects Automatic Stabilizers' Minimal

The Congressional Budget Office projects automatic stabilizers will have a negligible average effect on federal deficits from 2026 to 2036, a sharp shift

Fiscal

CBO: $494B in Expired Authorizations

The CBO's 2026 report shows $494 billion in appropriations linked to 1,447 authorizations that had already expired before the year started.

Fiscal

H.R. 8278: $1M Direct, $1M Revenue Loss

H.R. 8278 would raise federal direct spending by $1 million and reduce revenues by $1 million over 2026-2036, according to a Congressional Budget Office

Fiscal

Meta to Pay $18bn to US States

Meta agreed to pay up to $18bn to 48 states, Washington DC and three territories after a lawsuit alleging harm to children.

Fiscal

Canada-US Trade War Fears

Fiscal

US Economy Raises Concerns as National Debt Surpasses $40tn

The US economy is showing signs of trouble as the national debt passes the $40tn mark, raising concerns about the country's financial stability

Fiscal

Federal Reserve Announces Enforcement Actions

The Federal Reserve Board has issued an enforcement action with SouthPoint Bancshares, Inc. and terminated an enforcement action with Deutsche Bank AG and its subsidiaries.

Fiscal

UK Crypto Holders Receive Warning Letters in Tax Crackdown

HMRC sends over 81,000 warning letters to crypto holders who may owe capital gains tax

Fiscal

US National Debt Surpasses $40 Trillion, Doubling in a Decade

The US national debt has reached a milestone $40 trillion, more than doubling in a decade due to heavy spending under both the Trump and Biden administrations.

Fiscal

Disposable BBQ ban imposed as military aids wildfire response

The UK government has temporarily banned disposable barbecues amid extreme drought and heatwave conditions, citing their role in recent wildfires. Military personnel, including Gurkha logistics teams, have been deployed to assist firefighters in England and Wales, where over 1,000 wildfires have been recorded this year. Prime Minister Andy Burnham warns the country is 'a tinderbox' and urges caution with open fires.

Fiscal

U.S. International Trade in Goods and Services Decreases in June

The U.S. goods and services deficit decreased by $4.4 billion in June, according to the U.S. Census Bureau and the U.S. Bureau of Economic Analysis. Exports and imports both saw decreases, with exports falling by $2.9 billion and imports falling by $7.3 billion.