What is the 7 year inheritance tax rule and how does it help cut your bill?

Portugal is experiencing a notable boost in its budget bill, which includes tax cuts aimed at benefiting families and companies. This positive development is significant as it reflects the government's commitment to stimulating economic growth and providing relief to its citizens and businesses. By reducing taxes, the government hopes to enhance disposable income for families and encourage investment from companies, ultimately fostering a more robust economy.

The UK housing market is facing significant challenges as employers express growing concerns over budget constraints. This downturn is crucial as it reflects broader economic uncertainties, potentially impacting job security and consumer spending. With rising costs and a lack of confidence, the housing sector's struggles could lead to a slowdown in economic growth, affecting many households and businesses alike.

The UK statistics office has revised its borrowing estimate down by £3 billion, indicating a healthier fiscal outlook for the government. This adjustment is significant as it suggests improved financial management and could lead to more investment in public services or tax cuts. Such positive news can boost consumer confidence and stimulate economic growth, making it a crucial development for the UK economy.

French markets are experiencing a positive uptick as the caretaker prime minister expresses optimism regarding the budget ahead of crucial talks to form a government. This development is significant as it reflects a potential stabilization in the political landscape, which could lead to more decisive economic policies and investor confidence.

Rachel Reeves has received an additional £3 billion for her upcoming budget after the Office for National Statistics revealed that public borrowing estimates had been overstated due to a VAT error. This correction, which indicates that borrowing was miscalculated by £200 million to £500 million each month since January, provides Reeves with more flexibility in her financial planning. This adjustment is significant as it allows the government to reassess its fiscal strategy and potentially invest in key areas, benefiting the economy and public services.

Rachel Reeves has successfully cleared a planning blockage that was delaying the construction of 20,000 homes due to the presence of a rare snail. This decision highlights her effective relationship with developers and the government's ongoing efforts to reform the planning system. By addressing such unique challenges, the government aims to accelerate housing development, which is crucial for meeting the growing demand for homes.

Rachel Reeves is considering changes to high-end property taxes in the upcoming Budget, but experts warn that this shake-up could unintentionally hurt first-time buyers. The concern is that while the intention may be to target wealthier property owners, the ripple effects could make it even harder for those trying to enter the housing market. This is significant because it highlights the delicate balance policymakers must strike to support new buyers without disrupting the market.

Ireland is taking a significant step to boost its capital markets by reducing the tax rate on investment in fund products from 41% to 38%. This change, announced by Finance Minister Paschal Donohoe during the budget presentation, aims to attract more investment and enhance the overall financial landscape in the country. By lowering the tax burden, Ireland hopes to encourage both domestic and international investors, which could lead to increased economic growth and stability.

Saving for your first home's down payment can feel daunting, but with the right strategies, it becomes manageable and even exciting. This article explores effective saving techniques that can help you reach your goal faster, making homeownership a reality. Understanding these methods is crucial as it not only prepares you financially but also empowers you to make informed decisions in the housing market.

France is currently facing a significant political crisis that has thrown its budget plans into chaos. The government's inability to effectively manage spending could hinder essential measures needed to address the country's alarming public deficit. This situation is critical as it not only affects the nation's financial health but also has broader implications for economic stability and public services.

There's been a significant rise in the number of children holding pensions, as families are proactively gifting to shield their loved ones from inheritance tax. This trend highlights a growing awareness among parents and grandparents about the importance of financial planning for the future, ensuring that their children are better prepared for financial responsibilities. It's a positive shift that not only benefits the younger generation but also reflects a strategic approach to managing wealth across generations.

Recent reports indicate that households in the euro zone are increasing their savings, which could hinder economic growth. This trend is significant as it reflects consumer caution amid ongoing economic uncertainties. While saving can be a prudent choice for families, a collective shift towards saving rather than spending may slow down recovery efforts and impact businesses reliant on consumer spending.

Treasury Secretary Scott Bessent announced that the US has finalized a significant $20 billion currency swap framework with Argentina's central bank. This agreement is crucial as it strengthens economic ties between the two nations and provides Argentina with much-needed liquidity, especially in challenging financial times. Such collaborations can enhance trade and investment opportunities, benefiting both economies.

California Governor Gavin Newsom has introduced a groundbreaking law aimed at reducing ultraprocessed foods in school lunches over the next decade. This initiative is significant as it sets a precedent for healthier eating habits among children, promoting better nutrition and overall well-being. By phasing out these unhealthy options, the state hopes to combat rising obesity rates and foster a healthier future for students.

Best Buy and Target are facing significant challenges as consumer habits shift and competition intensifies. Once popular destinations for casual shopping, these retailers are struggling to attract customers who now prefer online shopping or other alternatives. This decline not only affects their sales but also reflects broader trends in the retail industry, making it crucial for them to adapt to changing consumer preferences.

In a significant victory for inclusivity, the Long Island Roller Rebels have successfully blocked New York state's ban on trans women players. Amanda 'Curly Fry' Urena, the league's president, expressed the team's excitement over the higher court's decision, which she described as a rejection of Nassau County's 'transphobic and cruel ban.' This ruling not only empowers trans athletes but also highlights the growing acceptance and support for diversity in sports, making it a pivotal moment for both the league and the broader community.

Canada's financial system is currently facing increased risks due to uncertainties surrounding tariffs, which have led lenders to adopt a cautious approach while awaiting a resolution to the ongoing trade dispute with the U.S. This situation is significant as it highlights the interconnectedness of trade relations and financial stability, emphasizing the need for effective regulatory oversight.

Moody's has downgraded MBIA Corp. to a Caa3 rating and changed the outlook for National to negative. This is significant as it reflects concerns about the company's financial stability and could impact its ability to secure funding. Investors and stakeholders should pay close attention to these changes, as they may affect market confidence and the company's future operations.