Jeremy Hunt on Wednesday claimed he had proved the “declinists” wrong in delivering “a budget for growth” — the magic ingredient to fix public services, repair the social safety net and boost living standards. From tax breaks for business to free childcare, welfare reforms and a big pensions giveaway, he reeled out measures intended to
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Jeremy Hunt is a lucky politician. The failure of his predecessor made him chancellor of the exchequer. That and the energy crisis forced him to take tough action last November. Since then, falling gas prices have relieved pressure on the economy and public finances. But he has also used his new room for manoeuvre shrewdly.
After dropping below $26,000 per unit, the price of bitcoin, the leading digital asset by market capitalization, is still up 9.6% since last week. However, its price has decreased by 6.5% in the last 24 hours. Out of the 7,316 companies, crypto assets, precious metals, and exchange-traded funds worth more than $82 trillion in value,
A suit by subordinate Puerto Rico Sales Tax Finance Corp. (COFINA) bondholders may have implications for Puerto Rico Electric Power Authority and other Puerto Rico bonds, a Puerto Rico analyst not involved in the case said. Marzulla Law, which specializes in claims in the U.S. Court of Federal Claims, is representing the COFINA bondholders. The
On March 14, 2023, the U.K.-based bank Natwest Group announced new limits on cryptocurrency payments, citing crypto scams that cost U.K. consumers £329 million annually. The limit imposed on crypto exchanges is £1,000 daily ($1,215), with a 30-day limit of £5,000 ($6,077). Natwest’s Cautious Approach Towards Crypto Assets Prompts Another Transfer Limit Amid the banking
Jeremy Hunt prepared for his first Budget last weekend with a 19-mile run, part of his training for a forthcoming marathon. Sadly for the UK chancellor, his political strategy is by necessity more of a sprint. With a general election expected in 2024, Hunt has precious little time to turn around a sluggish economy and
We know Rishi Sunak likes innovation. The Silicon Valley premier created a new department for science, innovation and technology as part of the modest ambition of making the UK “the most innovative economy in the world”. In his Mais lecture last year — which showed the thinking behind the welcome tax breaks for business investment
Some readers may have been given the impression recently that the Conservative party is a quasi-religious cult, dedicated to the reverence of its chosen people — or as they are known in the party, “pensioners”. But wait, what was this? A makeover? Wednesday’s Budget bravely acknowledged that not everyone in Britain remembers the death of
On this episode of Decentralize with Cointelegraph, United States policy reporter Turner Wright and opinion editor Rudy Takala speak to listeners about their experiences at the ETHDenver conference from Feb. 24 to March 5. Wright arrived in time to interview industry experts, check out a “hacker house” and watch developers go through BUIDLWeek. Takala talks
Ohio filed a civil federal lawsuit against Norfolk Southern Corp. that seeks to ensure residents and the state receive long-term compensation for lost taxes and economic and environmental damage caused by the February toxic train derailment in East Palestine. Local, state and federal authorities are overseeing water and air quality testing and Norfolk Southern’s disposal
Florida’s most prominent issuer official is on board with pending legislation to limit the ability of issuers around the state to shape the municipal bonds they sell. House Bill 3, which cleared two committees this week, would prohibit bond issuers from issuing an environmental, social, and corporate governance bond or paying for a third-party verifier
A call to the Financial Industry Regulatory Authority’s senior help line led to dozens of brokers compensating investors who overpaid for defaulted Florida bridge bonds due to a complex and rarely used bond price calculating method. The complaint came in February 2021 from an investor who had bought Santa Rosa Bay Bridge Authority capital appreciation
The United States equities markets tumbled on March 15 after Saudi National Bank, Swiss Bank Credit Suisse’s largest investor, said it will not be able to provide any more funding to Credit Suisse due to regulatory limitations. Investors are nervous because Credit Suisse, which has large U.S. and global operations, warned on March 14 that
Chancellor Jeremy Hunt on Wednesday presented a long list of measures to boost UK economic growth, but the medium-term outlook remained relatively unchanged. Hunt said his was a Budget for “long-term, sustainable, healthy growth that pays for our NHS and schools, finds jobs for young people, and provides a safety net for older people”. It
Jeremy Hunt delivered a tax bonanza to 2mn of the highest-earning pension savers in an attempt to stem the wave of early retirement, a core tenet of the chancellor’s “back to work” Budget. The big surprise in Hunt’s speech was scrapping from April the lifetime allowance of £1.073mn on pension pots, which has limited the
British businesses will be offered £27bn in tax relief for the next three years to boost company investment as the government seeks to jump-start economic growth. In his Budget, Jeremy Hunt, the chancellor, set out plans to make the UK “the best place in Europe for companies to locate, invest and grow” with incentives to
The previous six months should have been extremely beneficial to Ether’s (ETH) price, especially following the project’s most significant upgrade ever in September 2022. However, the reality was the opposite: Between Sept. 15, 2022 and March 15, 2023, Ether underperformed by 10% against Bitcoin (BTC). The ETH/BTC price ratio of 0.068 had been holding since
Following Openai’s release of GPT-4, a deep learning and artificial intelligence product, crypto assets focused on AI have spiked in value. The AGIX token of the Singularitynet project has risen 25.63% in the last 24 hours. Over the last seven days, four out of the top five AI-centric digital currencies have seen double-digit gains against
British motorists will save £100 on average after the government retained a 5p per litre discount on fuel duty for a further year, prompting warnings from carmakers and public transport campaigners that the move would slow the uptake of electric vehicles. The measure, which was introduced last year to help offset the soaring cost of
The problematic fact at the heart of UK chancellor Jeremy Hunt’s “Budget for growth” is that the latest data shows Britain’s economy is still extremely sluggish. The average annual growth rate from the eve of the coronavirus pandemic was forecast by the Office for Budget Responsibility fiscal watchdog at only 1 per cent. That expectation
Bitcoin (BTC) kept bears sweating near $25,000 on March 15 as encouraging macroeconomic data combined with concerns over banking crisis contagion. PPI offers “great signs” on Fed pivot Data from Cointelegraph Markets Pro and TradingView showed BTC/USD recovering from a 24-hour comedown to see highs of $25,273 on Bitstamp. The pair reacted positively to the