fiscal policy

China dials back budget spending by most in over four years

The move suggests authorities are leaning towards containing debt risks now that Beijing’s growth target of around 5% looks safely within reach

Last year, British finance minister Rachel Reeves imposed a big tax rise on employers’ social security contributions to raise money for infrastructure spending, which hurt business confidence.

UK’s CBI tells Reeves to break tax promises and build fiscal headroom

[LONDON] British finance minister Rachel Reeves should break election pledges not to raise taxes on working people so she can build “real fiscal headroom” in her budget this month, the Confederation o...

Rachel Reeves - despite raising taxes by about £40 billion (S$69.2 billion) in her first budget last year - is probably £22 billion off course to meet her rule that day-to-day spending is in balance with tax revenues by the end of the decade, the IFS estimated.

UK’s Reeves should go big on tax increases in November, think tank says

[LONDON] British finance minister Rachel Reeves should raise taxes by a lot in next month’s budget to exit the “Groundhog Day scenario” of continuously having to find measures to patch up the public f...

Yasuto Watanabe, director of the Asean+3 Macroeconomic Research Office and former senior deputy vice-minister of finance in Japan, says the use of local currencies in cross-border trade can be supplementary.

Asean+3 macro research office wants to be ‘gym trainer’, not doctor, for region’s economies

The focus should be on practical solutions that cater to the member economies’ realities, says Amro chief, Yasuto Watanabe

IMF says continued fiscal policy uncertainty, and escalating trade tensions could deteriorate global risk sentiment and elevate financial stress, hurting both debtor and creditor nations.

IMF warns tariffs aren't the answer to global imbalances

The report took aim at US President Donald Trump’s imposition of higher import tariffs against nearly every trading partner

The main reason to worry about global trade imbalances is not the impact on manufacturing, but rather on financial stability.

Why global imbalances do matter

If the US wants to accelerate a worldwide discussion with a policy intervention, the obvious one would be a tax on capital inflows

The gold rush is driven by investors seeking alternative capital preservation.
COMMODITY INSIGHTS

Gold could test US$4,000 an ounce amid fiscal fears, escalating trade tensions: market watchers

A debt-to-GDP ratio not seen since wartime levels has stoked fiscal fears over the world’s largest economy

US Speaker of the House Mike Johnson speaking to the media after the House narrowly passed a Bill forwarding President Donald Trump's agenda on May 22. The  presence of section 899 shows that the Trump team is at least entertaining the idea of turning trade wars into capital wars, in the future.
PERSPECTIVE

There’s a ticking time bomb in Trump’s ‘big, beautiful Bill’

Investors are fretting about a clause that would penalise foreign holders of US assets

The estimated accumulated fiscal surplus over the current electoral term is S$14.3 billion or around 1.9% of the gross domestic product, says the analyst.
BROKERS’ TAKE

These Singapore names are potential winners from election Budget, tariff volatility: Maybank

Property-related stocks and real estate investment trusts stand to gain

“There are concerns about some companies struggling with liquidity difficulties due to the global trade conflict sparked by US tariffs and a delayed recovery in domestic demand,” Acting President Han Duck-soo says.

South Korea proposes 12.2 trillion won extra budget to underpin growth amid tariff turmoil

The budget plan comes as the country earlier this month prepared support packages for its auto and chip sectors