{"id":7623,"date":"2022-11-05T23:53:09","date_gmt":"2022-11-05T23:53:09","guid":{"rendered":"https:\/\/nebawealth.com\/?p=7623"},"modified":"2022-11-05T23:56:16","modified_gmt":"2022-11-05T23:56:16","slug":"uk-its-not-all-doom-and-gloom","status":"publish","type":"post","link":"https:\/\/nebawealth.com\/uk-its-not-all-doom-and-gloom\/","title":{"rendered":"UK: It&#8217;s Not All Doom And Gloom!"},"content":{"rendered":"\n<p><em><strong>PARTNER INSIGHT<\/strong><\/em><\/p>\n\n\n\n<p>The Chart of the Week highlights the UK government\u2019s debt as a percentage of GDP, and on the right, you can see the average maturity of this debt. So, what\u2019s all the fuss about? The market is concerned that the UK government won\u2019t be able to pay its bills (debt). This is because the UK government announced several cuts to personal tax last week, which means they will take in less money from taxpayers and will need to issue government bonds (debt) to pay for these tax initiatives.<\/p>\n\n\n\n<p>This included:<\/p>\n\n\n\n<ul>\n<li>Abolishment of the higher rate (45%) of income tax for earnings over \u00a3150,000<\/li>\n\n\n\n<li>Cutting of the basic rate of income tax by 1% from April 2023, from 20% to 19%<\/li>\n\n\n\n<li>The increase in the stamp duty threshold to \u00a3250,000<\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"914\" height=\"401\" src=\"https:\/\/nebawealth.com\/wp-content\/uploads\/2022\/11\/Screen-Shot-2022-11-06-at-06.50.59.png\" alt=\"\" class=\"wp-image-7624\" srcset=\"https:\/\/nebawealth.com\/wp-content\/uploads\/2022\/11\/Screen-Shot-2022-11-06-at-06.50.59.png 914w, https:\/\/nebawealth.com\/wp-content\/uploads\/2022\/11\/Screen-Shot-2022-11-06-at-06.50.59-300x132.png 300w, https:\/\/nebawealth.com\/wp-content\/uploads\/2022\/11\/Screen-Shot-2022-11-06-at-06.50.59-768x337.png 768w\" sizes=\"(max-width: 914px) 100vw, 914px\" \/><figcaption class=\"wp-element-caption\"><br><strong>Should we be concerned?<\/strong><br><strong><br><\/strong>Well, even after you consider the new planned spending (the red diamond in the chart above indicates the level of debt-to-GDP in 2023\/2024), the debt profile for the UK does not change all that much. In fact, the UK remains below levels of debt when compared with other countries in the G7 (a group of seven of the world\u2019s largest and most advanced economies). And the UK does not have to pay its debt back for longer than any other country in the G7.<br><br>Takeaway: Don\u2019t let the truth get in the way of a good story. It\u2019s important to get information from different sources to get to the facts.<br><br><strong>Did you know:<\/strong><br><br>Bank of England launches \u00a365bn move to calm markets. Click <a href=\"https:\/\/www.ft.com\/content\/756e81d1-b2a6-4580-9054-206386353c4e\" target=\"_blank\" rel=\"noreferrer noopener\">here.<\/a><br><br>Source: Marlborough Multi-Asset Investment Team, Goldman Sachs, Financial Times.<br><\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>PARTNER INSIGHT The Chart of the Week highlights the UK government\u2019s debt as a percentage of GDP, and on the right, you can see the average maturity of this debt. So, what\u2019s all the fuss about? The market is concerned that the UK government won\u2019t be able to pay its bills (debt). This is because [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":7628,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[],"_links":{"self":[{"href":"https:\/\/nebawealth.com\/wp-json\/wp\/v2\/posts\/7623"}],"collection":[{"href":"https:\/\/nebawealth.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nebawealth.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nebawealth.com\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/nebawealth.com\/wp-json\/wp\/v2\/comments?post=7623"}],"version-history":[{"count":5,"href":"https:\/\/nebawealth.com\/wp-json\/wp\/v2\/posts\/7623\/revisions"}],"predecessor-version":[{"id":7631,"href":"https:\/\/nebawealth.com\/wp-json\/wp\/v2\/posts\/7623\/revisions\/7631"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nebawealth.com\/wp-json\/wp\/v2\/media\/7628"}],"wp:attachment":[{"href":"https:\/\/nebawealth.com\/wp-json\/wp\/v2\/media?parent=7623"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nebawealth.com\/wp-json\/wp\/v2\/categories?post=7623"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nebawealth.com\/wp-json\/wp\/v2\/tags?post=7623"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}