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London, England -August 14: British Prime Minister Keir St. The Prime Minister accepts veterans, historians and schoolchildren during the reception to celebrate the 80th anniversary of Japan’s day, or on VJ, which celebrates Japan’s announcement of Potsdam Declaration on August 15, 1945, effectively learning the Second World War. (Photo by Alberto Pezzali – WPA/Getty Images pool)
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This week, after being upset at the UK Prime Minister’s office, Keira Starmer in Downing Street, after the main advisory groups of Finance Minister Rachel Riviz. Analysts now note that this step notes the urgent attempt to increase the government’s economic powers on the eve of the difficult autumn budget.
Among the most famous shifts were the appointment of the former deputy governor of the Bank of England, the Shang Safery’s main economic advisor Starmer. Starmer also moved with Darren Jones, who had previously been deputy Riva -Downing Rate to become Chief Secretary of the Prime Minister.
Shake-UP operations are widely interpreted as a humiliation for a shize and an application on Starmer to force everything to move to a government that promises to provide changes and economic growth for the British people. This also comes when the government approval rating is 13% (with 67% of respondents not approved) According to yougov.
The next big test for Starmer and Reeves will come later this fall, with the issue of the next autumn budget, which is set out by the plans of economy, taxation and costs.
After posting wide state expenses and the announcement of financial rules for reducing debt and holding back borrowing, the shi is Widely expected to increase taxes In her application, follow her independently imposed financial rules and balance the budget.
However, the market tremors due to the Treasury are obvious, but the profitability on the 30-year-old gilding of the UK on Tuesday rose to 5.7%high level since 1998.
Higher yields reflect investor confidence and mean that the government has to pay more for servicing its debt by exerting greater pressure on the Treasury.
Ahead of difficult times
Describing the reshuffle of the leading team of Downing -Stretch as a reflection of the Prime Minister’s disappointment is that he perceives as a swollen but slow state service and the desire to strengthen Heft on the economy, “Starmer said” very difficult autumn “.
On Monday, Rahman emphasized that on Monday there was “a belated recognition that Starmer delegated too much Rachel Ricz, whose political opinion lacked in the field of checking the fuel of pensioners and reducing well-being and abandoned.”
In order to avoid adverse reaction in the financial markets, Eurosia Group has stated that Reivz would strive to follow the manifesto of work, so as not to raise income tax, national insurance for employees and VAT, as well as to its financial rules.
British Prime Minister Kire Starmer meets with British Chancellor Casa Reichl Reivz, a few days before the announcement of the first budget of the new work government, for Downing -States on October 28, 2024 in London, England. Starmer and Reivz meet ahead of the budget on Wednesday.
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But Reivz is likely to “increase the raft” of other taxes, said Rahman, including the potential transition to the “Just Tax” system, which was previously approved by Minouche Shafik – especially higher taxes on the wealthy ones.
“Like a” fair tax “, the budget topic of the shiza will be for anyone who contributes, if wealthy pay more taxes and ordinary people who will receive the best rewards,” Rahman said.
On Tuesday, the bond market on Tuesday will be food for the Treasury and is regarded as a warning, as the Reivz weighs what Nigel Green, CEO of Devere Financial Consultation Group, called “politically explosive choice” about taxation and expenses.
“The markets make their views hard,” Green said in the comments by e -mail on Tuesday.
“The message from the bond market coincides with the fact that humiliated (former Prime Minister) Liz Rabbit: Financial authority can be false. The shiya will have nothing else how to provide tight measures – either tax reducing, or both if she wants to prove that the debt in the UK cannot fall in accordance.”
