FT News Briefing The politics behind the UK Budget
Mar 5, 2024
Gold prices are nearing record highs, reflecting a safe haven in uncertain times. The EU has slapped Apple with a hefty €1.8 billion fine, intensifying the battle against Big Tech. Meanwhile, the Conservative government's proposed tax cuts are analyzed, raising questions about their influence on the upcoming UK election. As the UK faces economic challenges, the interplay between financial policies and political strategies becomes ever more critical.
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Gold vs. Bitcoin
- Gold prices near all-time highs, driven by investors seeking safe havens amid volatility.
- Bitcoin, a riskier asset, is also approaching record highs, presenting a contrasting investment landscape.
EU vs. Big Tech
- The EU fined Apple €1.8bn for anti-competitive practices, signaling a broader fight against Big Tech.
- The Digital Markets Act deadline adds pressure, but the EU's effectiveness remains debated.
UK Budget Politics
- The UK's spring budget aims to boost the Conservative party's image before elections with tax cuts.
- However, previous tax cuts haven't significantly improved their poll ratings, and the economy remains stagnant.