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Top News In ஆர்கநைஸேஶந் க்கு பொருளாதார இணை செயல்பாடு மற்றும் வளர்ச்சி Today - Breaking & Trending Today

Yellen pledges U.S. international cooperation, calls for global minimum tax

4 Min Read
(Reuters) -U.S. Treasury Secretary Janet Yellen said on Monday that she is working with G20 countries to agree on a global corporate minimum tax rate and pledged that restoring U.S. multilateral leadership would strengthen the global economy and advance U.S. interests.
In a speech ahead of her first International Monetary Fund and World Bank Spring Meetings as Treasury Secretary, Yellen signaled stronger U.S. engagement on issues from climate change to human rights to tax base erosion.
A global minimum tax proposed by the Biden administration could help to end a “30-year race to the bottom on corporate tax rates,” Yellen told an online event hosted by the Chicago Council on Global Affairs. ....

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OECD More Than Doubles US Economic Growth Forecast | Chief Investment Officer

OECD More Than Doubles US Economic Growth Forecast
Fiscal stimulus and a sustained vaccination pace are expected to spur the strongest GDP growth in 37 years.
What a difference three months can make.
The Organisation for Economic Co-operation and Development (OECD) has more than doubled its gross domestic product (GDP) growth forecast for the US economy since making its last projections in December. At that time, the OECD said it expected real GDP growth of 3.2% in the US in 2021, but now it expects the US economy to grow 6.5% this year.
If its current predictions are accurate, it would be only the second time since 1966 that US GDP growth exceeded 6%, following behind 1984 when GDP growth was a red-hot 7.2%. ....

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Australia to introduce legislation to amend offshore banking rules

By Reuters Staff
1 Min Read
SYDNEY, March 12 (Reuters) - Australia will introduce legislation in parliament to amend its offshore banking unit (OBU) rules to try to avoid the country being designated a harmful tax regime by the European Union and OECD, Treasurer Josh Frydenberg said on Friday.
The OBU provides a more attractive tax rate for offshore banking activity conducted by Australian registered banks. (Reporting by Renju Jose; Editing by Jacqueline Wong) ....

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Little need for measures to boost consumption - Irish finance minister

Irish consumers will not need government incentives to spend record levels of savings once the economy reopens, Finance Minister Paschal Donohoe told Reuters on Friday, as he hopes for "signs" of a rebound in economic growth in the third quarter. ....

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Canada should make fiscal support a priority over debt management as economy recovers, OECD says

The Globe and Mail
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Policy makers in Canada need to keep supportive measures in place as the economy recovers from the COVID-19 pandemic before turning to debt management, the Organization for Economic Co-operation and Development said Thursday.
In a report, the Paris-based group said Canada’s growth prospects have brightened as vaccines are rolled out, although risks posed by the pandemic remain. The OECD has boosted Canada’s economic growth estimate for 2021 to 4.7 per cent from 3.5 per cent. Major domestic banks have pencilled in even stronger growth for this year. ....

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