Business and Tax News - Aug 2023

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BUSINESS AND TAX NEWS - AUG 2023

Chancellor May Be Able To Lower Taxes If Lower Borrowing Continues

UK BUDGET

Chancellor May Be Able To Lower Taxes If Lower Borrowing Continues

Next General Election due before Jan'25 and Labour currently ahead in polls - would Hunt be able to use tax cuts to sway voters?
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Bank of England Raises Interest Rates Again To 5.25 Percent

PERSONAL TAX

Bank of England Raises Interest Rates Again To 5.25 Percent

14th increase in a row by the Bank of England. Not as sharp a rise as previous increase but inflation still sits at near 8 percent - 4x the target.
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