Five key takeaways from the UK’s tax-and-spending budget

The British Future thinktank has predicted that net migration to the UK will decrease to approximately 300,000, a figure reminiscent of pre-Brexit levels, as new data is set to be released. This projection indicates a significant drop from the current figures for 2023, which are over three times higher.

Thai pork producers are expressing concerns over the potential influx of inexpensive US pork imports as the United States seeks duty-free access to Thailand's $3 billion pork market. This development comes amid ongoing trade negotiations and reflects the competitive pressures that local producers may face.

The Canadian government has announced new support measures for the lumber and steel industries, which have been adversely affected by tariffs imposed by the United States. This initiative comes amid stalled trade negotiations between Ottawa and Washington, highlighting ongoing tensions in trade relations.

UK Finance Minister Rachel Reeves has unveiled a new budget that raises taxes for ordinary workers while increasing government spending on social welfare programs. The plan aims to elevate the government's tax revenue to a post-war high of 38% of GDP by 2031, as reported by the Office for Budget Responsibility (OBR). This budget is set to be a pivotal moment for the Labour government amid ongoing economic challenges.

A targeted shooting incident occurred near the White House in Washington, DC, resulting in two members of the National Guard being injured. The authorities have confirmed that one suspect is in custody following the shooting, which took place close to the Farragut West metro station.

A UK judge is currently reviewing the government's decision to classify the activist group Palestine Action as a terrorist organization under counter-terrorism laws. This review comes amid ongoing legal challenges from the group, which argues that the ban is unprecedented and unjustified.

Chancellor Rachel Reeves has unveiled a £26 billion tax-raising budget aimed at the wealthiest households in the UK, which includes the scrapping of the two-child benefit cap and cuts to energy bills funded by a mansion tax. This budget was announced amid a chaotic day marked by early leaks from the Office for Budget Responsibility (OBR).

U.S. diplomatic efforts are intensifying to negotiate an end to the ongoing Russia-Ukraine war, with discussions involving a revised peace plan initially drafted during the Trump administration. Recent meetings have included U.S. officials and a Russian delegation in Abu Dhabi, following significant amendments made by Ukrainian representatives to the proposed deal.