Backers of a significant shake-up that is dividing English football have been forced to defend the proposals amid fierce criticism from the UK government, the Premier League and the Football Association.
The plan, devised by Rick Parry, the chairman of the English Football League, which runs the three divisions below the top flight, and Liverpool and Manchester United, the Premier League’s two most successful clubs, would hand a £250m bailout to the EFL as well a 25 per cent share of future media revenue.
For Mr Parry, it is a chance to reset English football and address the unsustainable surge in costs to keep up as the gulf widens between the Premier League and the EFL. It also marks a power grab by the top clubs, as it would concentrate power in the hands of the Big Six, which includes Arsenal, Chelsea, Manchester City and Tottenham Hotspur.
The tax proposals of Democratic presidential nominee Joe BidenJoe BidenMcConnell challenger dodges court packing question ‘Hamilton’ cast to reunite for Biden fundraiser Trump relishes return to large rallies following COVID-19 diagnosis MORE would raise $2.8 trillion over 10 years and reduce taxes for most households in the near-term, according to an analysis released Tuesday by the right-leaning American Enterprise Institute (AEI).
“Overall, Biden’s tax proposals would make the US tax code more progressive,” AEI researchers said in their paper.
Biden has offered a number of tax proposals aimed at raising taxes on wealthy individuals and corporations. These include undoing portions of President TrumpDonald John TrumpTwo ethics groups call on House to begin impeachment inquiry against Barr Trump relishes return to large rallies following COVID-19 diagnosis McGrath: McConnell ‘can’t get it done’ on COVID-19 relief MORE‘s 2017 tax-cut law that cut taxes for people making over $400,000, subjecting
Using the Tax-Calculator (3.0.0) microsimulation
model, we estimate that Joe Biden’s proposals would raise federal revenue by
$2.8 trillion over the next decade (2021–30).
The majority of new federal revenue would come
from businesses and corporations ($1.9 trillion). The remaining revenue would
come from individual income and payroll tax increases ($616.8 billion) and an
increase in estate and gift taxes ($276.4 billion).
In 2021, Biden’s proposals would increase taxes,
on average, for the top 5 percent of households and reduce taxes on households
in the bottom 95 percent. In 2030, Biden’s proposals would increase taxes, on
average, for households at every income level, but tax increases would
primarily fall on the top 1 percent of income earners.
Using the open-source OG-USA (0.6.2) model, we
estimate that Biden’s proposals would reduce gross domestic product (GDP) by
0.16 percent over the next decade, slightly increase GDP the second decade
The proposed development of a 52-acre site at Stafford North Business Park, close to Junction 14 of the M6, will create a purpose-built warehouse unit, a three-storey office and two double-storey hub offices.
Plans include a new roundabout on the A34 Stone Road and a development access road serving the new warehouse unit. An additional 100,000sq ft of expansion land will also be available, if required.
Pets at Home has signed a 20-year conditional agreement for lease on the development, with construction set to start on site in 2021, pending planning consent by Stafford Borough Council.
Stoford joint managing director, Dan Gallagher, said: “This development represents a fantastic opportunity to give Pets at Home a modern, purpose-built facility in a superb central location. Our proposals for Stafford North Business Park have been submitted following
The English football pyramid could be set for a drastic overhaul as Manchester United and Liverpool lead ‘Project Big Picture’.
Proposals revealed by The Telegraph have shown the drastic changes being planned in an ‘extraordinary overhaul’.
Much has been made of what has been described as a ‘power grab’ by top clubs and met with widespread condemnation from across the football world.
EFL chairman Rick Parry insists the drastic overhaul would be for the “greater good of the game” and includes several financial packages to support those lower down the pyramid as football grapples with the costs of the COVID-19 pandemic.
But several elements of the detailed proposal are cause for concern – here’s a look at five points which are most worrying for football fans.
“Every four years a Democrat runs for president on a platform that includes higher taxes for the wealthy. And every four years a group of people predicts that the sky will fall if those plans are implemented. Yet every time their plans have been implemented, the sky hasn’t fallen.” Those are the words of Harvard professor Jason Furman, who was Chairman of the White House Council of Economic Advisers during Barack Obama’s second presidential term.
Furman is right. It’s never made sense that Republicans would cry “recession” every time a Democrat would promise tax increases. This isn’t to defend tax increases. Rest assured this write-up will not.
Still, Republicans vandalize the word “recession” when they say tax cuts will automatically cause them. Painful as they are, recessions have historically signaled an economy on the mend. During boom periods, it’s only natural that lenders will reach a bit in terms of
The Tory minister has called for an end to the leaking of the government’s lockdown proposals
3 min read
Tory business minister Nadhim Zahawi has called for an end to “corrosive” leaks after it was reported that ministers were set to announce new lockdown measures on Monday.
Leaders in the north have already hit out at Boris Johnson after details of his plans to introduce tough new restrictions from Monday to tackle a surge in cases across England were reported earlier this week.
According to The Times, the Prime Minister is set to order the closure of as many as 7,000 pubs and restaurants in the North and the Midlands as part of a new “traffic light” system for escalating lockdown measures in England.
But the leaking of the plans has provoked fury among local leaders, with Sheffield City Region metro mayor Dan Jarvis
Residents in and around Encantohave an opportunity to provide input on two redevelopment proposals for a vacant lot that’s poised to become a catalyst for economic and employment opportunities in southeastern San Diego.
The city launched an online open house this week to showcase two proposals for the Valencia Business Park: a healthcare center or a renewable energy business hub. Community members can weigh in on concepts through Oct. 14.
The 4.3-acre lot along Stevens Way and Imperial Avenue has been vacant for more than 20 years. City leaders anticipate that developing the land will create economic opportunities for the area, which is a federally designated promise zone.
“It will have an economic impact no matter what project is chosen, but it will also have an impact of pride for the surrounding areas,” said Councilwoman Monica Montgomery Steppe, who represents the neighborhood.
NEW YORK (Reuters) – U.S. stocks rebounded to close sharply higher on Wednesday after incremental stimulus proposals helped investors recover from the shock of President Donald Trump’s announcement on Tuesday that he would halt stimulus talks until after the Nov. 3 election.
Increased risk appetite also resulted in weaker Treasury prices and a steepening yield curve as markets were heartened that at least some fiscal aid measures to help an economy battered by the coronavirus pandemic were still on the table.
While White House Chief of Staff Mark Meadows said he was “not optimistic for a comprehensive deal,” Trump appeared to relent somewhat, urging Congress