Growth has stagnated and job vacancies are declining, while inflation is rising, making it difficult for the Bank of England to cut interest rates. Chancellor Rachel Reeves faces upcoming challenges, including a rise in employers’ national insurance, stamp duty, and the end of business rates relief for pubs and hospitality businesses. Trump’s tariffs on Europe could further impact the UK’s largest export market. Reeves should consider phasing in the NI rise, reforming business rates, and cutting government spending to avoid a spring economic catastrophe.
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Lesotho, a Small African Nation, Expects a Big Hit From Trump’s Tariffs
The Trump administration imposed high tariffs on several African countries, including Lesotho, which heavily relies on denim exports to the United States. This move, coupled with the recent end of aid to Africa, is expected to devastate economies already struggling with debt. The impact of these tariffs will not only affect the African continent but also have global economic repercussions, prompting a need for regional trade networks to mitigate the effects. Full Article
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