Hunt May Net £10 Billion for Tax Cut if BOE Shifts on Asset Sales [BNN Bloomberg (Canada)]
T. Rowe Price Group, Inc. (TROW)
Last t. rowe price group, inc. earnings: 4/28 07:30 am
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Source: BNN Bloomberg
The UK central bank is winding down a portfolio of assets that reached £895 billion ($1.1 trillion) during its efforts to protect the economy from the pandemic and global financial crisis between 2009 and 2022. Most central banks are shrinking their QE portfolios, a process known as quantitative tightening, but the BOE is one of very few to be actively selling assets rather than simply letting them mature. BOE Governor Andrew Bailey disclosed in a letter to the Treasury select committee last December that the government would save £100 billion by 2033, spread roughly equally across the decade, if active sales ceased. Such a move would give Hunt an extra £10 billion a year, on top of the £8.9 billion headroom he had at the March budget, enough for another 2% cut to National Insurance contributions. He has cut employee NICs by 4% since last November and has said his ambition is to get rid of the tax entirely. Last week, the BOE revealed that UK taxpayers will have to pick up a £1
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TROW
Earnings
- 4/26/24 - Beat
TROW
Sec Filings
- 5/10/24 - Form N-CEN
- 5/10/24 - Form N-CEN
- 5/10/24 - Form N-CEN
- TROW's page on the SEC website