4.2 Million Children in Poverty by 2029, DWP Forecasts
Government analysis predicts 4.2 million children will live in relative low income by 2029, a mere 10% drop from current levels, despite Labour's policy changes.
Category : Economy
UK Services Sector Rebounds but Job Losses Worsen
The UK services sector expanded at its fastest pace in five months in January, driven by post-budget confidence, but employment fell for the longest period in 16 years as firms cut costs.
Sunrise Host Clashes With Minister Over Cost-of-Living
A heated exchange erupted on Sunrise as host Nat Barr challenged Housing Minister Clare O'Neil over government action on inflation and interest rate rises, with Nationals Senator Bridget McKenzie joining the fiery debate.
Greg Jericho Criticises 'Cowardly' Rate Rise in Podcast
Economist Greg Jericho condemns the recent interest rate increase as 'cowardly' in a Guardian podcast, sparking debate on monetary policy and its economic impact.
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One Million Face HMRC Fines After Tax Deadline
Approximately one million individuals risk £100 penalties for missing the self-assessment tax deadline, with HMRC collecting provisional data on submissions.
AI Legal Tool Launch Hits European Data Firms' Shares
Anthropic's new AI tool for lawyers triggers sharp share price falls for European data and publishing firms, reigniting concerns over AI-driven job losses in the UK.
1m Miss Tax Deadline, Face £100 Fines
An estimated one million people missed the self-assessment tax deadline, facing £100 penalties. HMRC reveals 475,722 filed on the final day, with millions in fines expected.
One Million Face £100 Fines After Missing Tax Deadline
HMRC reveals over one million missed the January 31 Self Assessment deadline, facing £100 penalties that could increase, while 11.48 million filed on time.
Australia's Central Bank Lifts Rate to 3.85%
The Reserve Bank of Australia has increased its benchmark interest rate to 3.85%, reversing three cuts from last year as inflation pressures intensify.
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RBA Rate Rise Reveals Labor's Fiscal Denial
The Reserve Bank's latest cash rate increase to 3.85% highlights Canberra's failure to curb spending, forcing monetary policy to bear the full burden of taming persistent inflation.
Australian Spirits Tax Increase Takes Effect This Week
Australian consumers face higher prices for spirits like vodka, gin, and whisky after a new alcohol excise duty increase aligned with inflation came into force this Monday.
Sunrise Hosts Grill Treasurer Over Inflation Comments
Sunrise hosts Nat Barr and Matt Shirvington challenge Treasurer Jim Chalmers on his past inflation remarks as economists warn of government spending's role in rising prices ahead of an expected RBA rate hike.
UK Growth to Slow to 0.9% in 2026, Business Investment Contracts
The EY Item Club forecasts UK GDP growth will decelerate to 0.9% in 2026, with business investment contracting by 0.2% as tax hikes and global uncertainty weigh on the economy.
Pilot Cuts Salary 25% to Avoid £100k Tax Trap
A Surrey pilot has deliberately reduced his working hours by a quarter after discovering that earning just over £100,000 would leave him worse off due to the personal allowance tax trap, choosing instead to focus on his London tour business.
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Modi's Budget Cuts Taxes for Middle Class, Boosts Economy
India's government presents annual budget with income tax reductions for salaried workers, agriculture support, and clean energy investments amid economic challenges.
PM's Tennis Outing Amid Rate Hike Fears Sparks Debate
Prime Minister Anthony Albanese attended the Australian Open semi-finals with his son as Australians brace for a potential interest rate increase, sparking political arguments over inflation causes.
UK Growth Forecast Slashed to 0.9% for 2026
The EY Item Club predicts subdued UK economic growth of just 0.9% in 2026, far below Treasury expectations, as global uncertainty and tax policies curb business investment.
RBA Holds Rates Steady, Easing Mortgage Pressure in Australia
The Reserve Bank of Australia has announced it will maintain the current interest rate, providing temporary relief for homeowners facing high mortgage repayments amid economic uncertainty.
Record US Tax Refunds Expected Under New Law
Americans are poised to receive their largest tax refunds in years due to policy changes from the One Big Beautiful Bill Act, with an estimated $60 billion extra compared to last year.
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February 2026 Money Changes: Alcohol, Fines, Rates
A comprehensive guide to the major financial shifts and deadlines in February 2026, including alcohol duty increases, Nationwide savings cuts, and smart meter compensation schemes.
India's 2026 Budget Balances Infrastructure with Fiscal Discipline
India's government presents 2026-27 budget with major infrastructure spending and manufacturing focus while maintaining fiscal consolidation targets amid global economic volatility.
Corporate America's Silence Tested by Trump Administration
As immigration raids turn deadly in Minnesota, US CEOs face mounting pressure to speak out against Trump's policies while fearing government retaliation and consumer backlash in a deeply polarized era.
HMRC's Midnight Deadline: £100 Fine for Self-Assessment
Millions face an immediate £100 penalty from HMRC if they miss the self-assessment tax return deadline at midnight tonight, with escalating fines for further delays.
Betfred Founders Top UK Tax List, Styles and Rowling Feature
The Sunday Times Tax List reveals the UK's top 100 taxpayers contributed £5.758 billion, led by Betfred's Done brothers. Harry Styles, JK Rowling and Mo Salah also feature prominently.
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Alcohol Duty Rise Forces Pub and Shop Price Increases
UK drinkers face higher costs as a 3.66% alcohol duty increase comes into force, with industry leaders warning of inevitable price rises across pubs, bars and supermarkets.
IRS Tax Refund 2026: When to Expect and Track Your Money
The IRS projects average refunds could be $1,000 higher this year. Learn when to expect your payment and how to use tracking tools like Where's My Refund?
Shell Earnings to Drop 21% After Oil Price Slump
Shell is expected to report a 21% drop in full-year underlying earnings to $18.79bn as oil prices saw their biggest fall since 2020, with analysts forecasting significant declines across key metrics.
HMRC Warns Taxpayers as Self-Assessment Deadline Looms
HM Revenue and Customs issues urgent warning to two million taxpayers facing Saturday's self-assessment deadline, with automatic £100 penalties for late filing and enhanced support services available.
Self-Assessment Deadline Looms: 10 Million File
With the January 31 self-assessment tax return deadline approaching, HMRC reports over 10 million filings. Late submissions risk automatic £100 penalties and further fines.
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Eurozone Growth Steady as Dollar Weakness Threatens Exports
The European economy recorded modest 0.3% growth in Q4 2025, overcoming US tariff threats, but now faces challenges from a stronger euro against the dollar that could impact export competitiveness.
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