Federal Budget (U.S.) Austerity

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  • BRASILIA, July 5- Brazil will set a 2017 primary budget deficit smaller than the 170.5 billion reais expected for this year, but the final figure will depend on the sale of assets, three government officials told Reuters on Tuesday. Finance Minister Henrique Meirelles said earlier on Tuesday that the deficit plan would be announced on Thursday as the government...

  • UK Chancellor of the Exchequer George Osborne speaks at a Conservative Party Conference.

    British finance minister George Osborne warned voters that he will take new austerity measures if they decide to leave the bloc in next week's referendum.

  • *Osborne outlines 30 billion-pound squeeze. LONDON, June 15- British finance minister George Osborne, battling to keep the country in the EU, warned voters that he will take new austerity measures if they decide to leave the bloc in next week's referendum. "I would have a responsibility to try to restore stability to the public finances and that would mean an...

  • DUBAI, June 7- Investors gave a lukewarm response to Saudi Arabia's economic reform plan on Tuesday as they worried that steps to rein in a $100 billion state budget deficit could cause a deep slowdown in the kingdom. The National Transformation Plan contains hundreds of policies and targets that, if realised, would change the way Saudi Arabia does business.

  • Instead of delivering growth, some neoliberal policies have increased inequality, according to a recent report from the IMF.

  • SAO PAULO, May 25- Brazilian equities rose on Wednesday after interim President Michel Temer's government cleared its first major test in Congress, gaining permission to post a record budget gap this year. "The honeymoon is over and Temer is taking his first steps in Congress," said Jaime Ferreira, head trader at Intercam brokerage in São Paulo.

  • SAO PAULO, May 25- Brazilian equities rose on Wednesday after interim President Michel Temer's government cleared its first major test in Congress, gaining permission to post a record budget gap this year. "The honeymoon is over and Temer is taking his first steps in Congress," said Jaime Ferreira, head trader at Intercam brokerage in São Paulo.

  • BRASILIA, May 24- Brazil's interim President Michel Temer said on Tuesday he would seek a constitutional amendment to curb public spending as his government unveiled a raft of austerity measures to reduce a record fiscal deficit and regain investor confidence. Temer, who was vice president under Rousseff, said a vote in Congress on Tuesday on the 2016 fiscal...

  • BRASILIA, May 24- Brazil's interim President Michel Temer said on Tuesday he would seek a constitutional amendment to curb public spending as his government unveiled a raft of austerity measures to plug a record fiscal deficit and regain investors' confidence. Temer, the country's former vice president, said a vote in Congress on Tuesday on the 2016 fiscal...

  • BRASILIA, May 20- The Brazilian government expects a record budget shortfall this year as a two-year recession drags down revenues, but policymakers vowed new austerity measures to regain investors' confidence in the once-booming economy. Finance Minister Henrique Meirelles said the target could be reduced if Congress approves austerity measures to be...

  • Parliament will also vote on a contingency mechanism to automatically impose spending cuts that will be activated only if Athens, which has received three international bailouts since 2010, misses its latest fiscal targets. International lenders want a mechanism that will compel Greece to cut overheads to keep Greece within a 3.5 percent primary deficit...

  • NEW YORK, May 13- Connecticut's lawmakers moved to close a projected budget deficit of nearly $1 billion on Friday, the last hurdle for a spending plan that now passes to the governor for signing before the start of the fiscal year on July 1. House lawmakers passed the $19.7 billion austerity budget for the 2016-2017 fiscal year late on Friday evening after the...

  • *Deficit 72.2 bln stg vs 74.0 bln stg forecast by OBR. LONDON, April 21- Britain's budget deficit has overshot finance minister George Osborne's target and retail sales fell sharply in March, adding to signs of a slowing economy, according to data released on Thursday. The deficit was slightly above the 72.2 billion-pound forecast set for Osborne by Britain's...

  • MADRID, April 16- Spain's acting treasury minister met with the heads of the country's regional governments late on Friday, urging them to control their spending this year in order to rein in one of the European Union's largest public deficits. The task is a politically uncomfortable one for the caretaker government of the centre-right People's Party at a time...

  • Larry Summers: Damage of repressed deficits

    Larry Summers, Harvard University professor and former Treasury Secretary, shares his thoughts on deferred debt, the global economy, and trade wars.

  • OTTAWA, March 22- Canada's new Liberal government on Tuesday unveiled a stimulus budget to revive growth with infrastructure spending and said it would run a deficit nearly three times larger than promised during last year's election. The government said the budget was expected to raise growth 0.5 percent in the first year and 1.0 percent by the second after...

  • economy@ OTTAWA, March 22- Canada's new Liberal government said on Tuesday that in a bid to revive growth it would run a deficit nearly three times larger than promised during last year's election, but gave no target date for returning to a balanced budget. The projected C $29.4 billion deficit for fiscal 2016-17 comes after the government of Prime Minister...

  • GLASGOW, March 22- Scotland's nationalist leader said she would stop a planned UK- wide tax cut from being introduced in Scotland, drawing a contrast with British finance minister George Osborne whose latest budget plans have raised a storm of protest. The Scottish government will use its new powers to stop the planned increase in the level at which households...

  • The human cost of an economic crisis

    Nicos Anastasiades, President of Cyprus, says governments need to achieve budgetary discipline without harming vulnerable members of society.

  • PARIS, Feb 25- Lower taxes, fewer labor rules, less state: in a country famed for its attachment to a protective social model, economic liberalism is the surprise trend among aspirants for France's 2017 presidential election. For decades, the French center-right eschewed the free market policies of Margaret Thatcher, sticking to the tradition of a strong...