#government-revenue

#government-revenue

According to a report from The Wall Street Journal, the Trump administration is set to receive a total of $10 billion in the deal that allowed TikTok to remain in the US. The new investors who acquired stakes in the US entity of TikTok already paid a $2.5 billion fee to the administration when the deal closed in January, but WSJ's latest report noted that the group of investors would continue to make payments until the total hits $10 billion.

They urged Reeves to impose higher duties on the most addictive products, such as high-street slot machines and online casino games, both of which are growing rapidly. Support for tapping these segments of the industry for much-needed revenue echoes similar calls from thinktanks and Gordon Brown, who has said gambling taxes should rise by 3bn to fund an end to the two-child benefit limit. Gambling firms have fought tooth and nail against any increase, including through a summer charm offensive with Labour MPs.

Off the top of my head, we're talking three, maybe three or four million calls potentially.

The UK's wealthiest private schools took in 500m last year through fee in advance schemes. Parents sought to avoid a 20% VAT added to school fees.