The UK’s finance minister has defended his wife after it was reported that she holds the non-domiciled status that exempts her from paying UK tax on foreign income. In an interview with The Sun, Chancellor of the Exchequer Rishi Sunak said his wife Akshata Murty had not “done anything wrong” and her financial arrangement “would not be…
UK Opposition Questions Non-Dom Tax Status of Finance Minister’s Wife
April 7, 2022
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Britain’s main opposition Labour Party has urged finance minister Rishi Sunak to explain why his wife has claimed non-dom status, which allows her not to pay tax in the UK for her foreign income. Sunak’s wife Akshata Murty, whose father is an Indian billionaire, is an Indian citizen and holds non-dom status, which means her…
UK’s Johnson Defends Tax Hike as ‘Necessary’ and ‘Responsible’
April 6, 2022
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British Prime Minister Boris Johnson has defended the decision to raise national insurance (NI) contributions for millions of workers, arguing that the manifesto-breaking rise is “necessary, fair, and responsible.” The government has raised national insurance contributions by 1.25 percentage points from April 6, breaking a pledge Johnson personally made in the Conservative Party’s election manifesto…
UK’s Johnson Vows to ‘Do More’ to Help Households Cope With Rising Prices
British Prime Minister Boris Johnson has promised more help for families struggling with rising prices and bills after the government’s budget update was criticised for failing to go far enough to protect living standards. Talking to LBC radio on Thursday, Johnson said: “I think that the cost of living is the single-biggest thing we’re having…
UK Inflation Soars to 30-Year High as Food Prices Surge
Inflation in the UK has risen to the highest level for nearly three decades, fuelled by rising food and energy prices. According to latest figures from the Office of National Statistics (ONS), the Consumer Prices Index (CPI) rose by 5.4 percent in the 12 months to December 2021, up from 5.1 percent in November. This…
UK Offers 1 Billion Pounds to Firms Hit Hardest by Omicron
LONDON—Britain announced on Tuesday 1 billion pounds ($1.3 billion) of extra support for businesses hit hardest by the wave of Omicron variant coronavirus cases, which is hammering the country’s hospitality sector and other businesses. Finance minister Rishi Sunak said he was confident the measures would help hundreds of thousands of businesses. But he added that…
UK’s Sunak Pledges Major Increase in Public Spending
Britain’s finance chief on Wednesday announced a major increase in public spending in what critics have branded a “high-tax, big-spending budget.” Rishi Sunak, the Chancellor of the Exchequer, said he will increase total departmental spending by £150 billion ($206 billion) by the 2024–25 financial year. “That’s the largest increase this century, with spending growing by…
UK Scraps Public Sector Pay Freeze as Economy ‘Back on Track’
The UK government said it will scrap the year-long public sector pay freeze because the economy is “firmly back on track” following the disruptions caused by the COVID-19 pandemic. Chancellor of the Exchequer Rishi Sunak confirmed the decision on Monday evening, which will pave the way for a possible wage increase next year for public…
UK Raises Minimum Wage Amid Rising Inflation
The UK Treasury said on Monday that the National Living Wage is set to increase from £8.91 to £9.50 (from $12.27 to $13.08) an hour as part of the autumn Budget, but critics said that much of the raise will be eaten up by rapidly rising inflation. The 59-pence rise means a full-time worker on…
UK Finance Chief Rules out More COVID-19 Lockdowns
Britain’s finance minister Rishi Sunak has ruled out more COVID-19 lockdowns, saying in a newspaper interview that there must not be a return to “significant economic restrictions.” In an interview with The Times of London published on Saturday, Sunak, the chancellor of the Exchequer, said that Britain is in a different phase of battling the…
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