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FP News

UK urged to create ‘net zero’ development bank

The UK government should create a ‘net zero’ development bank and pledge £5bn (US$6.3bn) to local energy projects, according to a new report backed by the Department for Business, Energy […]

US watchdogs warn of fraud and error risks in stimulus delivery

US federal agencies face significant challenges distributing the country’s US$2.2 trillion coronavirus relief fund, a committee of government watchdogs has found. In its first report on delivery of the stimulus […]

Irish government departments face funding cuts over missed climate change targets

Irish government departments and agencies that fail to deliver on climate action commitments will be punished with reduced funding, the government has confirmed. Details of the penalties – which will […]

New OECD proposal aims to shore up tax revenues in digital era

The OECD has published a proposal that aims to advance international negotiations to ensure large and highly profitable multinational enterprises (MNEs), including digital companies, pay tax wherever they have significant […]

US federal budget deficit to top $1 trillion next year

The federal budget deficit will exceed $1 trillion in 2020, according to figures released by the Congressional Budget Office (CBO). The CBO projects the 2019 deficit is up $63bn on […]

US aims to head off shutdown with budget agreement

A two-year budget agreement has been reached in the US, in a bid to avert the possibility of another government shutdown and the first-ever federal default which would send shockwaves […]

UK civil servants’ pay rise lower than other public sector workers’

Senior civil servants in the UK are to get a 2% pay rise, outgoing chancellor Philip Hammond announced on Monday, rejecting the recommendations proposed by a salary review board. The […]

US government could run out of cash over the summer

The White House is calling on Congress to urgently raise the debt ceiling before summer recess, or risk the nation running out of money before it returns.  In a letter […]

UK tax system needs urgent reform, think tank warns

The UK’s tax system will be unable to meet the dual challenges of a shrinking tax base and rising demand for public services unless it undergoes major structural reform, a […]

Indian budget aims to tackle slowing growth

The Indian budget, dubbed the “budget for new India,” sets out plans to invest billions in infrastructure and reduce taxes for most business owners, while raising taxes for the super-rich. […]