The UK Treasury wants to plug the rising budget deficit

UK

This may not get much wider airing today due to the UK holiday, but just be reminded that this is a story worth noting for the pound since the weekend.

UK Treasury officials are looking to raise taxes for capital gains and earnings, with the corporate tax rate said to possibly rise to 24% from 19% currently.

Eamonn also had the story on this issue earlier in the day here.

Amid plans by the government to shelve its furlough program, the fiscal side of things isn't looking too supportive for the pound as we look towards the latter stages of the year. So, this just adds to headwinds for the pound and is something to consider.

But perhaps we're likely to see more of an impact on the currency on the crosses rather than in cable, considering that the dollar itself is in a perilous state at the moment.