WELLINGTON (Reuters) – New Zealand’s Prime Minister Jacinda Ardern said on Wednesday that the annual budget will invest to create more jobs and get the economy going, but warned the country was about to enter a “very tough winter”. The government is seen unlea... More »
MIDDLESBROUGH, England (Reuters) – Looming over the skyline of Teesside in northeast England stands the rusting hulk of what used to be Europe’s largest blast furnace, which shut in 2015 with the loss of more than 2,200 jobs. Attempts to bring investment and e... More »
LONDON (Reuters) – Britain’s new finance minister Rishi Sunak will have to raise taxes rather than rely on tweaks to budget rules if he wants to really ramp up spending in a first post-Brexit budget next month, the Resolution Foundation, a think-tank, said. Su... More »
NEW DELHI (Reuters) – Amazon and Walmart’s Flipkart are among online retailers demanding that India scale back a proposed tax on third-party sellers on their platforms, saying the burden of compliance will hurt the fledgling industry, according to documents se... More »
WASHINGTON (Reuters) – The White House on Monday asked Congress for $25.2 billion for NASA in 2021, the agency’s biggest budget in decades, calling for steady increases over five years to meet President Donald Trump’s goal of landing astronauts on the moon and... More »
WASHINGTON (Reuters) – U.S. President Donald Trump will propose on Monday a 21% cut in foreign aid and slashes to social safety-net programs in his $4.8 trillion budget proposal for fiscal 2021, according to senior administration officials. The budget would sp... More »
WASHINGTON (Reuters) – President Donald Trump will propose cutting billions of dollars in U.S. foreign aid in his fiscal 2021 budget while seeking an increase in funds to counter developing economic threats from China and Russia, senior administration official... More »
OSLO (Reuters) – Norway plans to spend less money next year from its $1.1 trillion sovereign wealth fund, the world’s largest, as economic growth remains strong and unemployment declines, the center-right majority government said on Monday. “The Norwegian econ... More »
BERLIN (Reuters) – Chancellor Angela Merkel said on Wednesday that the current economic situation in Germany meant tax revenues could come in lower than expected. Europe’s largest economy contracted by 0.1% quarter-on-quarter in the April-June period and some ... More »
ROME (Reuters) – Italy’s ruling League party would seek tax cuts in the 2020 budget by raising the country’s deficit a little bit, its economics spokesman said on Monday. League chief Matteo Salvini pulled the plug last week on its coalition government with th... More »
NEW DELHI/MUMBAI (Reuters) – The Indian government’s budget proposal earlier this month to increase taxes on those with annual incomes of more than 20 million rupees ($292,269) has rattled many foreign portfolio investors(FPIs). The realization that the new ta... More »
WASHINGTON (Reuters) – U.S. House Speaker Nancy Pelosi said on Saturday that a two-year budget agreement with the Trump administration must include equal increases in defense and nondefense spending, plus additional money for a program intended to improve heal... More »
MUMBAI/NEW DELHI (Reuters) – India proposed tax waivers on Friday on the purchase of electric vehicles and removed import taxes on some auto components to help boost sales and reduce its dependence on fossil fuels. India, the world’s third-biggest emitter of g... More »
MILAN (Reuters) – Italy’s ruling parties could expose the nation to market shocks and put its savings at risk if they were not ready to compromise with the European Union over their budget plans, Prime Minister Giuseppe Conte told Corriere della Sera newspaper... More »
MEXICO CITY (Reuters) – Mexico’s hospitals are reeling under steep budget cuts by the country’s new government, with surgery delays for children, reductions in testing and staffing shortages, hospital directors said on Friday, fanning anger over President Andr... More »
PRAGUE (Reuters) – The Czech government will stick to plans for a 40 billion crown ($1.73 billion) central government budget deficit in 2020, unchanged from its 2019 target, Prime Minister Andrej Babis said as draft preparations near an end. The Czech Republic... More »
WASHINGTON (Reuters) – When President Donald Trump proposes his 2020 federal budget on Monday, official Washington will likely have a quick look, shrug and move on, marking another stage in the quiet decay of the U.S. government’s traditional policy-making pro... More »
WASHINGTON (Reuters) – President Donald Trump will propose in his fiscal 2020 budget on Monday that the U.S. Congress cut non-defense spending by 5 percent while boosting spending on the military, veterans’ healthcare and border security, the White House budge... More »
WASHINGTON (Reuters) – President Donald Trump on Monday will ask the U.S. Congress for an additional $8.6 billion to help pay for his promised wall on the U.S-Mexico border to combat illegal immigration and drug trafficking, officials familiar with his 2020 bu... More »
NEW DELHI (Reuters) – Desperate for five more years in power, India’s Hindu nationalist government will woo rural and urban middle-class voters with farm relief measures and tax cuts, said officials privy to plans for the final budget before a general election... More »
NEW DELHI (Reuters) – India’s Prime Minister Narendra Modi is considering three options for a relief package to help farmers suffering because of low crop prices at a cost of as much as 3 trillion rupees ($42.82 billion), according to three government sources.... More »
WASHINGTON (Reuters) – The U.S. government was partially shut down on Saturday in a fierce dispute over President Donald Trump’s demands that Congress assign $5 billion for a wall along the border with Mexico. After failing to strike a budget deal on Friday, c... More »
(Reuters) – While U.S. National Parks will generally remain open with a skeleton staff through the federal government shutdown, Republican governors in at least two states are working to make sure public restrooms get cleaned and visitor centers stay open. The... More »
WASHINGTON (Reuters) – The U.S. government was to begin a partial shutdown at midnight on Friday after Republican senators failed to muster the votes needed to approve $5 billion that President Donald Trump wants for a border wall fiercely opposed by Democrats... More »
WASHINGTON (Reuters) – U.S. Republican House Majority Leader Kevin McCarthy informed lawmakers on Friday they will be given a 24-hour notice before a vote to end the shutdown, pushing a reopening of government until at least Saturday night. The government will... More »
WASHINGTON (Reuters) – The U.S. House of Representatives adjourned just before 7 p.m. on Friday night (0000 GMT on Saturday), leaving the Capitol before approving government funding and thereby ensuring a government shutdown. The House is set to return from re... More »
WASHINGTON (Reuters) – The U.S. government appeared headed toward a partial shutdown, even as negotiations continued, after Senate leaders determined there was not support for President Donald Trump’s demand for $5 billion in border wall funding. The U.S. Sena... More »
PARIS (Reuters) – Finance Minister Bruno Le Maire said on Wednesday he favored calling on big companies to contribute to efforts to keep France’s budget deficit as close as possible to the EU limit next year. Facing a popular revolt that started out against fu... More »
ABOARD AIR FORCE ONE (Reuters) – U.S. President Donald Trump told reporters aboard Air Force One on Saturday he expects to agree to a two-week extension of funding ahead of a Dec. 7 deadline to fully fund the U.S. government because of former President George ... More »
NEW YORK (Reuters) – New Jersey Governor Phil Murphy struck a last-minute budget deal on Saturday, ending threats of a government shutdown that had raged for weeks as he struggled to reach an accord with members of his own party. It was the state’s first budge... More »
PARIS (Reuters) – France’s independent fiscal watchdog said on Friday that the government’s updated economic forecasts for 2018 and 2019 were plausible but the outlook afterwards was optimistic. President Emmanuel Macron’s government forecast on Tuesday growth... More »
BEIJING (Reuters) – China set a 2018 budget deficit target that’s lower than last year’s ratio even as it said“proactive” fiscal policy remains unchanged. The Ministry of Finance said on Monday that it is targeting a budget deficit of 2.6 percent of gross dome... More »
The top of five of U.S. President Donald Trump’s eight border wall prototypes are shown near completion along U.S.- Mexico border near San Diego, California, U.S., October 23, 2017. REUTERS/Mike Blake WASHINGTON (Reuters) – President Donald Trump will unveil h... More »
U.S. President Donald Trump speaks to reporters in the Oval Office at the White House in Washington, U.S., February 9, 2018. REUTERS/Jonathan Ernst WASHINGTON (Reuters) – U.S. President Donald Trump will roll out an infrastructure plan on Monday that already f... More »
FILE PHOTO – White House budget director Mick Mulvaney is interviewed outside the White House in Washington, U.S., January 19, 2018. REUTERS/Kevin Lamarque WASHINGTON (Reuters) – The White House said on Sunday its budget proposal would include $200 billion for... More »
FILE PHOTO: California Governor Jerry Brown attends the International Forum on Electric Vehicle Pilot Cities and Industrial Development in Beijing, China June 6, 2017. REUTERS/Thomas Peter/File Photo SACRAMENTO, Calif. (Reuters) – California Governor Jerry Bro... More »
Men work at the construction site of the New National Stadium, the main stadium of Tokyo 2020 Olympics and Paralympics, in Tokyo, Japan December 22, 2017. REUTERS/Issei Kato TOKYO (Reuters) – Tokyo 2020 organizers unveiled on Friday a budget of $12.6 billion f... More »
FILE PHOTO: A Japan Yen note is seen in this illustration photo taken June 1, 2017. REUTERS/Thomas White/Illustration/File Photo TOKYO (Reuters) – Japanese Prime Minister Shinzo Abe’s cabinet endorsed a record $860 billion budget for fiscal 2018 on Friday, opt... More »
TOKYO (Reuters) – Japan’s government is set to compile an extra budget worth around 2.7-2.9 trillion yen ($24-26 billion) for the fiscal year to March 2018, with additional bond issuance of around 1 trillion yen to help fund the spending, government sources to... More »
Britain’s Finance Secretary Philip Hammond leaves 11 Downing Street, London, Britain, November 15, 2017. REUTERS/Toby Melville LONDON (Reuters) – British finance minister Philip Hammond’s budget statement this week will include measures to encourage the develo... More »
Germany expects a budget surplus in 2017, but will not know its full extent until Nov. 9 when the finance ministry gets a new assessment of expected tax revenues, acting Finance Minister Peter Altmaier told broadcaster ARD on Sunday. More »
The Mexican Senate on Thursday approved part of the country's budget for 2018, raising the assumptions for oil prices and the exchange rate, a move that will help increase fund allocations for reconstruction after two devastating earthquakes last month. More »
A senior member of Germany's pro-business Free Democrats (FDP), a potential coalition partner for Chancellor Angela Merkel, generally welcomed French President Emmanuel Macron's European Union speech but criticized his proposal to create a joint euro zone budg... More »
French President Emmanuel Macron on Tuesday reaffirmed that he wanted the euro zone to have its own budget and finance minister, adding that it was key to ensure the stability of the single currency union and to weather economic shocks. More »
France's economic recovery is strong enough for the government to be able to cut spending and the deficit without growth being affected, the budget and finance ministers said on Monday. More »
A U.S. judge on Friday ruled that Illinois was not providing sufficient resources for the care of developmentally disabled residents and ordered the state to come up with a plan to restore services. More »
Illinois fought on Friday against a potential court order it contends could cost the state, which just ended an unprecedented budget impasse, as much as an additional $1 billion annually to care for developmentally disabled people. More »
Connecticut lawmakers narrowly approved a new labor contract with public employees on Monday that is expected to save the state at least $1.2 billion – largely through pension concessions – and could clear the way for lawmakers to agree on a past due budget.... More »
FILE PHOTO: An aerial view shows the skyline and lakefront of Chicago, Illinois, August 14, 2014. REUTERS/Jim Young Illinois’ first budget after two years is filled with partial outlines to address its debt-ridden pension system and unpaid bill backlog — signs... More »
FILE PHOTO: Bruce Rauner speaks to the media in Washington December 5, 2014. REUTERS/Larry Downing/File Photo Illinois ended its historic budget drought on Thursday after the House of Representatives enacted the state’s first complete spending plan since 2015 ... More »
FILE PHOTO: A general view of the joint session of the General Assembly in the House Chambers of the Illinois State Capitol in Springfield, Illinois February 1, 2012. REUTERS/Sarah Conard/File Photo Illinois’ first full-year budget since 2015 became law on Thu... More »
FILE PHOTO: A general view of the joint session of the General Assembly in the House Chambers of the Illinois State Capitol in Springfield, Illinois February 1, 2012. REUTERS/Sarah Conard/File Photo Seven U.S. states are still without budgets, nearly a week in... More »
FILE PHOTO: Illinois Gov-elect Bruce Rauner speaks to the media after a meeting with U.S. President Barack Obama and other Governor-elects from seven U.S. states at the White House in Washington December 5, 2014. REUTERS/Larry Downing/File Photo Even if Illino... More »
A man reads a newspaper as a pedestrian walks past, inside a building at a business district in Tokyo June 19, 2014. REUTERS/Yuya Shino Japan’s corporate tax revenue fell to 10.3 trillion yen ($90 billion) for the last fiscal year, the lowest since fiscal 2012... More »
FILE PHOTO: Illinois Gov-elect Bruce Rauner speaks to the media after a meeting with U.S. President Barack Obama and other Governor-elects from seven U.S. states at the White House in Washington December 5, 2014. REUTERS/Larry Downing/File Photo The fate of a ... More »
Illinois Governor Bruce Rauner announced on Tuesday his veto of a $5 billion income tax rate hike that was the lynchpin of a newly passed bipartisan budget package designed to end the state’s record-setting fiscal impasse, he announced via social media. More »
Illinois’ Democratic-controlled House of Representatives passed big, permanent income-tax rate increases on Sunday with the help of some Republican votes as the cash-strapped state scrambled to piece together a budget and revenue plan to stave off a bond ratin... More »
Illinois must increase payments to Medicaid providers despite an ongoing budget impasse, after a U.S. District Court judge on Wednesday ruled the minimal payments made by the state do not comply with federal consent decrees. More »
FILE PHOTO: Protesters demonstrate against U.S. President Donald Trump and his plans to end Obamacare outside the White House in Washington, U.S., March 23, 2017. REUTERS/Kevin Lamarque/File Photo The Trump administration will continue to pay subsidies for low... More »
FILE PHOTO: U.S. President Donald Trump looks up while hosting a House and Senate leadership lunch at the White House in Washington, U.S. March 1, 2017. REUTERS/Kevin Lamarque/File Photo President Donald Trump said on Sunday he expected Mexico to pay for the w... More »
Senate Democratic Leader Chuck Schumer said on Sunday he believes lawmakers could reach a short-term U.S. budget deal by Friday if President Donald Trump did not meddle in their talks with “poison pill” demands like funding for a border wall. More »
Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., April 20, 2017. REUTERS/Brendan McDermid U.S. stocks have struggled since the timeline for the Trump administration’s pro-growth agenda came into question, but investors appear ... More »
The seal of the United States Department of State is shown in Washington, U.S., January 26, 2017. REUTERS/Joshua Roberts U.S. Secretary of State Rex Tillerson has maintained a hiring freeze at the State Department even though it was lifted for the rest of the ... More »
Uber Canada on Thursday urged the Canadian government to retain a tax advantage available to ride-services companies, a day after the country’s Liberal administration proposed removing the measure. More »
Earl Gohl (C), co-director of the Appalachian Regional Commission, is participating in a coding demo with Interapt trainees in Paintsville, Kentucky, U.S. on March 13, 2017. REUTERS/Valerie Volcovici President Donald Trump has proposed eliminating funding for ... More »
U.S. President Donald Trump speaks at the annual Friends of Ireland St. Patrick’s Day lunch honoring Irish Taoiseach Enda Kenny in the U.S. Capitol in Washington, U.S., March 16, 2017. REUTERS/Kevin Lamarque President Donald Trump’s proposal to do away with th... More »
U.S. President Donald Trump’s overview of the budget priorities for Fiscal Year 2018 are displayed at the U.S. Government Publishing Office (GPO) on its release by the Office of Management and Budget (OMB) in Washington, U.S. March 16, 2017. REUTERS/Joshua Rob... More »
FILE PHOTO: Scott Pruitt, administrator of the Environmental Protection Agency (EPA), speaks to employees of the agency in Washington, U.S., February 21, 2017. REUTERS/Joshua Roberts/File Photo Proponents of government efforts to clean up hazardous waste sites... More »
President Donald Trump makes remarks to the press as he sits down for a working lunch with members of his cabinet and their spouses, including Veteran’s Administration Secretary David Shulkin (L) and Labor Secretary Wilbur Ross (R), at Trump National Golf Club... More »
Director of the Office of Management and Budget Mick Mulvaney (L) listens to U.S. President Donald Trump speak during a ”strategic initiatives” lunch at the White House in Washington, U.S., February 22, 2017. REUTERS/Kevin Lamarque The White House budget direc... More »
Scott Pruitt, administrator of the Environmental Protection Agency (EPA), speaks to employees of the Agency in Washington, U.S., February 21, 2017. REUTERS/Joshua Roberts The White House is proposing to slash a quarter of the U.S. Environmental Protection Agen... More »
U.S. President Donald Trump makes a toast during the Governor’s Dinner in the State Dinning Room at the White House in Washington, U.S., February 26, 2017. REUTERS/Joshua Roberts The White House will send federal departments a budget proposal on Monday contain... More »
The logo of Mondelez International is pictured at the company’s building in Zurich November 14, 2012. T REUTERS/Michael Buholzer The number of U.S. companies using a budgeting tool made famous in the 1970s by former U.S. President Jimmy Carter is surging as th... More »
Australian Prime Minister Malcolm Turnbull attends a session during the B20 Summit ahead of G20 Summit, in Hangzhou, Zhejiang province, China September 4, 2016. REUTERS/Aly Song Australia’s conservative government on Monday forecast a A$10 billion deterioratio... More »
A Japanese flag flutters atop the Bank of Japan building in Tokyo, Japan, September 21, 2016. REUTERS/Toru Hanai/File Photo Japan’s government plans an initial budget of a record 97.45 trillion yen ($830 billion) for fiscal 2017, while keeping new debt issuanc... More »
Britain’s Chancellor Philip Hammond arrives at Downing Street in central London, Britain October 31, 2016. REUTERS/Stefan Wermuth Britain will only start to lower public debt as a share of GDP at the end of the decade due to a Brexit-related hit to the economy... More »
Italy’s Prime Minister Matteo Renzi talks to the media as he leaves a European Union leaders summit in Brussels, Belgium, October 21, 2016. REUTERS/Francois Lenoir Italian Prime Minister Matteo Renzi said on Monday that a letter in which the European Commissio... More »
Japan’s parliament approved on Tuesday a $32 billion extra budget for this fiscal year that will help fund Prime Minister Shinzo Abe’s economic stimulus package. More »
BEIJING China has room to increase its fiscal deficit ratio to between 4 and 5 percent to more effectively boost the economy, official media quoted a central bank official as saying. China’s current fiscal deficit target is 3 percent of gross domestic product ... More »
JAKARTA A tax amnesty program planned by Indonesia’s government could potentially attract home 560 trillion rupiah ($42.38 billion) of assets stashed offshore, the central bank governor told a parliamentary commission on Monday. The amnesty program could also ... More »
BEIJING China’s wider fiscal deficit budgeted for 2016 will be mainly used to finance tax cuts, a senior official of China’s cabinet research unit said on Wednesday. The comments from Huang Shouhong, deputy director of the State Council Research Office, came f... More »
NEW DELHI The government unveiled a budget for the poor on Monday, announcing new rural aid schemes and skimping on a bank bailout, in a strategy shift that seeks to boost Prime Minister Narendra Modi’s ruling party in coming state elections. Finance Minister ... More »
NEW DELHI India will release data on Monday showing it remains one of the fastest growing economies in the world, but economists are struggling to reconcile that rosy picture with ground realities like weak exports, investment, and flat corporate order books. ... More »
TOKYO Japan’s Cabinet Office will issue forecasts this week showing Prime Minister Shinzo Abe’s administration is falling behind its fiscal discipline targets, a document viewed by Reuters showed. The forecasts could deal a blow to the credibility of Abe’s fis... More »
BRUSSELS European countries most affected by the refugee crisis may be granted some leeway on fiscal rules for a limited period of time, the head of the euro zone finance ministers said on Monday. “My own opinion is that for a number of countries there are gro... More »
BRUSSELS The European Commission, which polices euro zone governments’ finances, will give more budget leeway to states that can prove to have suffered extraordinary costs to face the refugee crisis, Commission President Jean-Claude Juncker said on Tuesday. “W... More »
ATHENS Greece will unveil a painful 2016 draft budget on Monday meant to satisfy international creditors, projecting the economy will stay in recession next year before returning to growth in 2017, in line with the estimates by the country’s lenders. After sev... More »
CERNOBBIO, Italy A common euro zone budget should initially be funded through joint debt issuance and taxpayers’ money should only be used at a later stage, French Economy Minister Emmanuel Macron said on Saturday. France wants the euro zone to have its own jo... More »
LONDON Britain’s government is asking some departments to prepare to cut day-to-day spending by as much as 40 percent by the 2019/20 tax year, in a major spending review launched by Conservative finance minister George Osborne on Tuesday. The finance ministry ... More »
LONDON British finance minister George Osborne plans to launch a 650 million pound raid on the BBC to help cover the country’s benefits bill, forcing the corporation to meet the cost of free television licences for the over-75s, the Sunday Times said. It quote... More »
