Recently, the British government announced a series of emergency budgets for large-scale tax cuts, which is known as the largest tax cut craze in Britain in 50 years. This will promote the UK economy to restart growth and attract investment!
#01
The largest tax reduction plan in 50 years
Maximize the reduction of tax pressure
On the morning of September 23, Kwasi Kwarteng, the chancellor of the exchequer, announced the UK's largest tax reduction plan in the past 50 years, including reducing the stamp tax on home buyers and lowering the basic interest rate of personal income tax.
The tax reduction plan mainly includes:
Permanently reduce the stamp tax on house purchase: no stamp tax is required for the part of the property value below 250000 pounds, and the tax exemption range for first-time buyers is extended to 425000 pounds (the total price of the property must be lower than 625000 pounds), with immediate effect;
From November 6, 2022, the national insurance premium will be cancelled and increased by 1.25%;
From 2023, the basic tax rate of individual income will be reduced to 19%, reducing taxes for high-income people (45% of the additional tax will be abolished);
From 2023, the plan of increasing the corporate income tax rate to 25% will be cancelled and will remain at 19%;
From October 2022, the upper limit of frozen energy price is 2500 pounds;
Other plans to stimulate economic growth. For example, the establishment of special investment zones in various parts of the UK, the abolition of the bonus ceiling for financial practitioners, the freezing of alcohol tax, and the re provision of duty-free shopping for overseas tourists (tax refund can be handled).
The British government said that the new measures foreshadowed that the UK would enter a new era focused on economic growth. ?
On the whole, the "mini budget" of the Tesla government mainly hopes to stimulate economic development through tax cuts, return more money to the people and attract more international investors.
#02
The pound tumbled
The impact of Brexit has been exceeded
According to media reports, the sharp drop of sterling this year has exceeded the impact of Brexit in 2016.
On September 26, the British pound fell 4.9% at one time, and even nearly fell below 7.50 against the RMB. The fuse was the new tax reduction policy issued by the British government.
Since the Chancellor of the Exchequer announced a series of tax reduction plans with the largest scale and range in 50 years, the international foreign exchange market has worried that Britain is facing a more serious fiscal deficit and inflation.
As of this year, the exchange rate of sterling against the US dollar has also fallen by 17%, reaching the lowest level in 37 years.
The reasons for the continued decline of sterling include the strength of the US dollar, the sluggish growth of the UK economy and the high inflation rate. In addition, the Russia Ukraine issue is also a trigger, leading to the soaring commodity prices.
#03
Britain's new prime minister plans to relax immigration policy
Attract more talents to migrate to the UK
According to British media reports last week, the new Prime Minister Trass plans to relax the immigration policy to attract foreign population, so as to solve the problem of insufficient human resources and stimulate British economic growth.
In addition to solving the shortage of staff in some industries, the British government also plans to take measures to attract highly skilled people from all over the world to migrate to the UK.
This time, the British government will vigorously reduce taxes to stimulate economic development and attract investment, and will reform the immigration policy to attract talents to the UK, which indicates that the UK will usher in a rising period of development and a favorable policy dividend period for immigration.
At the same time, the pound fell sharply. If you plan to study, emigrate and invest in the UK, it would be good to take advantage of this market.
Take the application for UK innovation immigration as an example, the minimum investment amount is 50000 pounds:
At the exchange rate of 8.74 in January, 50000 pounds ≈ 437000 yuan
At the exchange rate of 7.77 on September 29, 50000 pounds ≈ 388000 yuan
The province is nearly 50000 yuan!
If you are interested in studying, investing, emigrating and working in the UK, you should make plans as soon as possible. For more information, please contact Xingyunhai International. We have a senior professional team that can evaluate and customize the application plan for you.
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