Budgets
The UK chancellor's budget has brought both benefits and drawbacks for small businesses and entrepreneurs. While some will face increased tax burdens, others will benefit from changes in tax laws and regulations. The budget aims to promote enterprise, investment, and productivity, but its success will depend on the
Taxation
The House of Representatives is pushing towards the passage of a $189-billion tax-cut legislation, combining a $500-per-child tax credit with reductions for businesses. The measure has been met with resistance from Democrats, who contend it is too generous to the wealthy. Republicans, however, argue that it marks a return to
Taxation
House Speaker Newt Gingrich has managed to secure enough Republican support to ensure passage of the bill that would slash personal and corporate taxes, despite concerns over the legislation's impact on the deficit and wealth distribution. The "crown jewel" of the Republican reform plans, the tax
Political parties
Republican tax cut plan, aimed at trimming higher-income families' eligibility for the $500-per-child tax credit, is facing opposition from within the party. A letter signed by 102 Republicans, including 35 freshmen and 10 committee chairs, asks the House leadership to lower the cap on family income from $200,000
Political parties
Kenneth Clarke, the Chancellor of the Exchequer, faced renewed criticism from the Conservative right wing last night as the party's internal strife threatened to undermine government unity. The right-wing 92 Group is meeting tonight to discuss the party's state before the local elections, and tensions are
Clinton, Bill
President Clinton's plan to pay for a $60 billion middle-class tax cut involves streamlining and reorganizing several federal agencies. The proposals, which were outlined at a briefing, include reducing the Energy Department's budget by $10.5 billion over the next five years and consolidating 60 Housing
Clinton, Bill
The Clinton administration has outlined spending cuts to balance the fiscal responsibility of proposed tax relief measures. The president has committed to offsetting the $60 billion in middle class tax relief over the next five years, and his administration has proposed major cuts to several federal agencies, including the Department
Taxation
House Democrats, under the leadership of Representative Richard A. Gephardt, have announced a plan to propose a tax cut for individuals earning less than $75,000 a year, a move aimed at targeting the struggling middle class. This proposal sets House Democrats apart not only from the ruling Republican House
Taxation
President Clinton is set to give a prime-time televised address on Thursday evening, amidst growing pressure from Capitol Hill to pass a middle-class tax cut. The president has been preparing for the speech, which will contain "specifics and some news," according to White House press secretary Dee Dee
Taxation
The UK Chancellor has unveiled a package of measures designed to strengthen the economy in the longer term and encourage the growth of enterprising companies. At the heart of the package is an emphasis on sheltering start-up companies from government regulations and financial market distractions. Key to this is the
Taxation
The UK government's proposal to establish Venture Capital Trusts (VCTs) aims to encourage private investors to put their money into small businesses, a move that could have significant implications for the country's entrepreneurial ecosystem. A recent example of a successful small business, Phileas Fogg, demonstrates the
Personal finance
A budget specialist from leading accountancy firms suggests a "pick-pocket budget" is likely on November 29, with tax take expected to increase from most taxpayers. The chancellor will announce a further cut in mortgage-interest relief at source (MIRAS) from 20% to 15% this year, and a subsequent cut
