Browsing: Economy

Economy
Biden’s plans for a global corporate tax rate could make the world a fairer place
More than a decade has passed without any progress in bringing the global tax system into the modern age. But less than three months after taking office, President Joe Biden has raised hopes of a breakthrough, with proposals that could kill tax havens dead and force multinationals to pay a fairer share of tax.The change in tone could not be more ma...
Economy
Britain is ‘bouncing back’ into the same old economy
In some government circles, the excitement before Britain’s opening-up and return to something like normality is making ministers giddy.Grant Shapps says everyone may start booking a foreign holiday now that he is at work revamping last year’s colour-coded map of the world. With a traffic-light system of testing and quarantine rules in place, it is...
Economy
Sunak urged to back corporate tax plan ‘worth £13.5bn a year’
Rishi Sunak has been urged to throw his full weight behind US proposals for a global minimum corporate tax rate after analysis showed it would bring in an extra £13.5bn a year for the public purse.The campaign group Tax Justice UK said the Biden administration plan would help raise billions of pounds a year for the UK exchequer by hitting multinati...
Economy
How would a global minimum tax work and why is it needed?
Why is a global minimum tax required?Tax systems around the world have been increasingly left behind in recent years by the rise of globalisation and digital media companies such as Google, Amazon, Apple and Facebook. They are firms operating across international borders that can shift profits around to exploit the most attractive low-tax locations...
Economy
The economy is on the cusp of a major boom and economists believe it could last
People crowd outdoor dining at a restaurant as coronavirus disease (COVID-19) restrictions are eased in Ann Arbor, Michigan, U.S., April 4, 2021.Emily Elconin | ReutersThe economy has entered a period of supercharged growth, and instead of fizzling, it could potentially remain stronger than it was during the pre-pandemic era into 2023.Economists no...
Economy
Dollar steadies after week of falls
U.S. one hundred dollar notes are seen in this picture illustration taken in Seoul February 7, 2011. REUTERS/Lee Jae-WonThe dollar recovered slightly on Friday but was still heading for its softest week of the year after surprisingly weak U.S. jobs figures the previous day and ongoing loose Federal Reserve policy prompted investors to trim their ...
Economy
Banks should invest in nature to fight climate crisis, says Prince William
Banks can help to turn the tide in the battle against climate breakdown by investing more in nature, the Duke of Cambridge has said.Prince William told a joint International Monetary Fund and World Bank event on the climate emergency that there needed to be a marked stepping-up of investment in projects such as reforestation and cleaner oceans.At a...
Economy
The Guardian view on taxing the tech giants: time to pay up | Editorial
The terrible global cloud that is the Covid-19 pandemic offered the world the glimpse of a silver lining this week. New tax proposals by Joe Biden mean that the economic emergency caused by coronavirus could result in big multinational corporations having to pay the fair amounts of tax they have avoided for so long. A breakthrough this week at the ...
Economy
Sharp pick-up in UK construction amid rapid economic recovery
Britain’s construction sector has had its sharpest pick-up in activity since 2014 amid signs that the domestic economy is recovering more quickly than Brexit- and pandemic-affected trade flows, new figures have shown.The latest snapshot of the construction sector, which accounts for around 6% of total UK output, pointed to an across-the-board incre...
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