Former financial secretary urges Hong Kong to seek alternative revenue sources
Former financial secretary John Tsang Chun-wah has urged the government of Hong Kong to seek alternative revenue sources to cover government spending, cautioning that the city has entered an era of structural fiscal deficits. Tsang criticized the revenue-boosting measures from the recent budget, highlighting that they were expected to generate only about HK$2 billion, falling far short of the required tens of billions to achieve fiscal balance.
UK’s Efforts to Combat Obesity Hit Roadblock as Firms Increase Calorie Content in Food Products
Government’s efforts to combat obesity crisis face a setback as firms increase calorie content in food products, defying calls for reduction. Men and women consuming excess calories, with significant increases in calorie consumption from various product types. Report highlights challenges in reducing calorie intake and underscores the need for more robust strategies and collaboration with food industry stakeholders.
Finance Minister emphasizes need for deeper understanding of MGNREGA implementation
The finance minister, Nirmala Sitharaman, has highlighted the need for a deeper understanding of the implementation of the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) to effectively monitor rural activities. In an interview with Mint, she pointed out significant…
Millions of UK Households Face Energy Bill Increases Due to Heat Network Expansion
Over five million households in the UK are facing the prospect of significant increases in their energy bills as a result of a major network roll-out. The government is aiming to expand the number of heat networks across the country,…
Italy’s Bold Move: Selling Off Crown Jewels to Address Massive Public Debt
Italy is making a bold move to address its massive public debt by putting its crown jewels up for sale. Prime Minister Giorgia Meloni’s hard-right government aims to raise 20 billion euros by 2026 through a privatisation program, which includes…
Legal Challenge to Onshore Wind Policy in England
Onshore wind policy in England is facing a legal challenge as the UK government’s decision to exclude onshore wind projects from the types of energy infrastructure projects that can generally be considered as ‘nationally significant infrastructure projects’ (NSIPs) under planning…
Threat to Argentina’s Film Industry Sparks International Protest
Argentina’s film industry is facing a major threat as newly elected president Javier Milei aims to fulfill his promise of cutting state spending by proposing to eliminate the country’s national film institute (INCAA) and its film schools (ENERC). This move…
Time to Reform VAT Threshold and Administration
It’s time to take VAT out of the ‘too-difficult’ box By Colin Borland Chancellor Jeremy Hunt has an opportunity to tackle the complexity and practical effects of VAT in his Spring Budget. It’s hard to believe that at a time…
Trudeau government policies driving cost-of-living crisis
After eight years of the Trudeau Liberal government managing the Canadian economy, Canadians are in the throes of a cost-of-living crisis. While this crisis is being felt by citizens in countries around the world, the Trudeau government’s policies are exacerbating…
Spanish Prime Minister Pledges to Take Active Role in Key Industries
Spanish Prime Minister Pedro Sanchez has expressed his government’s intention to take a more active role in the country’s key industries, aiming to foster new opportunities in areas such as cyber security, artificial intelligence, and defense. In an interview with…