Cosmos Currency Exchange
@CosmosExchange
Fractional Currency Consultant FounderDirector of Cosmos Currency Exchange Helping everyone move money globally with personal service and lasting relationships
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Tax
Britain’s taxes are so high that putting them up again would cost more than they raise according to top US economist Dr Arthur Laffer, the brains behind the Laffer curve. Dr Laffer, who advised Mr...
Euro hits 6-week high vs Pound after UK posts £18BN August deficit, £5.5BN over forecast. UK debt now 96.4% of GDP. Rising spending (up 9.2%) outpaces tax revenue despite highest rates since 1940s. Nov budget likely means more tax hikes targeting investors/businesses.
Dollar surges 1.6% to 2-week high vs Pound despite Fed cut. BoE held rates but markets price 50% chance of cuts. UK borrowing hit £18bn in Aug (highest since 2020), £83.8bn year-to-date. Debt at 96.4% GDP, highest since 1960s, fueling tax hike fears.
The Chancellor should, “Recognise the economy is on its knees and don’t bury it completely with yet more tax rises. “We need to promote economic growth, which means encouraging businesses, not tying them up in ever more taxes and red tape.” startups.co.uk/news/2025-autu…
The Pound is trading this morning at its highest level against the US Dollar since the 8th of July.
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The Pound is up, trading at its best level against the Canadian Dollar since 28 June.
Pound up 0.4% against the euro after French PM Bayrou's government fell. French bonds now yield more than Italian for 1st time since 1998. Bayrou lasted 9 months, leaving Macron seeking his 5th PM in 2 years. The UK economy is called "exceptionally fragile" by Oxford Economics.
£ hits 3-week high vs $ after weak US jobs data, up 1.6% despite UK political turmoil. Wed: US PPI data could boost $. Thu: US CPI (exp 2.9%) may confirm Fed rate cut Sept 17 - question is 0.25% or 0.5%. Fri: UK GDP data risk for £. Dollar buyers have 24hr window now.
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"The bond markets have already forced the UK to pay a ‘moron’ tax on its ever-rising debt mountain. The UK is already paying more in interest payments to service its debt than on defence or education. The situation is serious. Express.co.uk
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Check out the latest article in my newsletter: Stormy Autumn Ahead for Britain linkedin.com/pulse/stormy-a… via @LinkedIn
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