Since sweeping spending cuts in Britain are politically impossible, broad tax rises are coming. In a strange turn, the left is leading the backlash. We explain why https://t.co/kT8WY8wVOb ...

The think-tank is advocating for a huge cut in civil service headcount and a reduction in welfare benefits, the clearest sign yet that Nigel Farage’s party would pursue spending cuts before embarking on its populist tax reduction plans https://t.co/lW75JAYyTs ...

Fiscal Policy & Economic Outlook - The UK government faces a challenging budget season with potential tax increases and spending cuts [1] - The government aims to meet fiscal rules, reduce debt as a share of the economy, and balance day-to-day spending with tax receipts [2] - The government acknowledges global economic pressures including conflict in the Middle East, Russia's aggression in Ukraine, higher defense spending, and increasing trade barriers [2] - The government recognizes the need for a buffer to absorb economic shocks, but building more headroom requires further tax increases or spending cuts [4] - The Independent Office for Budget Responsibility (OBR) will provide forecasts, and the government aims to exceed those expectations through policies on trade, investment, planning, and capital market reform [3][14][15] Taxation & Investment - The government increased taxes on the wealthiest individuals and businesses in the previous year [5] - The government aims to create a pro-growth budget that attracts and retains talent and encourages business growth and investment in the UK [6] - The government has secured significant foreign direct investment, including from US technology companies [7] - The government has made changes to tax arrangements for non-domiciled individuals [8] - The government doubled the number of visas available for high net worth individuals, entrepreneurs, and academics in growth sectors [9] Welfare & Employment - The government emphasizes the importance of managing welfare budgets and reforming the welfare system [10] - The government has implemented changes to the universal credit system to reduce incentives related to health-related elements [11] - The government announced a youth guarantee to help young people not in education, employment, and training get back into work [11] - The government is addressing challenges in youth unemployment and inactivity with targeted programs [12]

France must make major spending cuts to help bring down a budget shortfall that’s fueling political turmoil and rattling bond markets, its central-bank governor said https://t.co/afhA5gFETf ...

Budget & Fiscal Policy - The report focuses on the mayor's proposed budget, specifically examining the mix of spending cuts and tax increases [1][2] - The analysis questions whether the mayor will consider budget cuts, given his historical reluctance to do so [2] - The report highlights the mayor's focus on increasing taxes for corporations and high-income earners [3] - The report emphasizes the need to address a $1.5 billion deficit for 2026 [5] Debt & Municipal Bonds - The city's potential reliance on debt to cover budget shortfalls is a key concern [4] - The city is active in the municipal bond market, primarily for infrastructure projects [4] - Airport financing is separate from the city's general budget [5] Credit Ratings & Pension Liabilities - Rating agencies view Chicago's pension liabilities as a significant pressure point [7] - The city's pension costs have increased due to recent legislation [8] - The administration needs to address the ongoing structural deficit to avoid potential ratings downgrades [8]

Financial Strategy - The industry suggests exploring options such as increasing productivity, reducing unnecessary expenses, or raising taxes to improve financial standing [1] - A combination of all three strategies (increase productivity, reduce unnecessary expenses, and raise taxes) may be considered [1]

Research shows a link between spending cuts and populist success. Indeed, in Britain, France and Germany such parties are already ascendant. Call it the deficit-populism doom loop https://t.co/Kju8ObcJHS ...

Summary of Key Points from the Conference Call Industry/Company Involved - The analysis focuses on the impacts of the One Big Beautiful Bill Act (OBBBA) on consumer spending in the US economy, particularly in North America. Core Insights and Arguments - **Consumer Spending Impact**: A slight boost to consumer spending is expected in 2026, estimated at approximately 15 basis points (bp), but larger negative impacts are anticipated in 2027 and beyond due to tax cuts expiring and spending cuts to programs like Medicaid and SNAP [1][9][10]. - **Cohort Analysis**: - Older and higher-income cohorts are expected to benefit the most from the bill, particularly through deductions for seniors and an increase in the SALT cap [1][11][24]. - Low-income consumers will face significant negative impacts due to cuts in transfer payments, with estimates suggesting that around 10 million individuals could lose access to federal health insurance by 2034 [1][27]. - Middle-income consumers may experience mixed effects, benefiting in the short term from new deductions but facing potential long-term negative impacts as tax cuts expire [1][26]. Additional Important Content - **Fiscal Multipliers**: The analysis indicates that spending cuts generally have larger multipliers than tax cuts, meaning that reductions in transfer payments to low-income consumers will have a more immediate and larger impact on demand [1][15]. - **Long-term Economic Growth**: The overall boost to consumption in 2026 is considered small relative to the drags from trade and immigration policy, which are expected to slow US economic activity [1][11][29]. - **Specific Provisions**: Key consumer-facing provisions include deductions for tips, overtime, and car loan interest, as well as changes to Medicaid and SNAP, which will have varying impacts across different income cohorts [1][12][31][50]. - **Projected Economic Growth**: The OBBBA is expected to add around 40 basis points to US GDP growth in 2026, primarily driven by defense spending and corporate tax changes, rather than consumer spending [1][10]. Data and Projections - **Consumer Spending Projections**: - 2026: +15 bp boost to nominal spending - 2027: -18 bp drag on nominal spending - 2029 and beyond: Negative impacts become more pronounced as tax cuts expire [1][19][21]. - **CBO Cost Estimates**: Various provisions have associated costs, such as the tips deduction costing $10 billion in 2026 and $31 billion total, while changes to Medicaid are estimated to save $7 billion in 2026 and $115 billion total [1][16][50]. This summary encapsulates the essential insights and projections regarding the impact of the OBBBA on consumer spending and various income cohorts, highlighting both the immediate benefits and the longer-term challenges posed by the legislation.

Financial Restructuring - The United Nations is cutting spending by over $700 million [1] Organizational Changes - The United Nations is planning an overhaul [1] Geopolitical Factors - The US is reducing its support for the United Nations [1]

The Senate worked overnight to approve $9.4% billion in spending cuts requested by President Trump. The final vote was 51 to 48 with two Republicans opposing the measure. That was Senator Susan Collins of Maine and Lisa Marowsky of Alaska.This vote brings President Trump one step closer to having his Department of Government efficiency cuts approved by Congress. NBC News correspondent, Capitol Hill correspondent I should say, Julie Cirin joins us from Washington with more on this. Hey Julie, good morning.Wh ...