UK's Reeves To Freeze Fuel Duty Next Year And Raise Tax On Private Equity Carried Interest To 32%
Portfolio Pulse from Benzinga Newsdesk
The UK plans to freeze fuel duty next year and increase the tax on private equity carried interest to 32%.
October 30, 2024 | 1:21 pm
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NEUTRAL IMPACT
The UK's decision to freeze fuel duty and raise taxes on private equity could impact US markets, as SPY includes companies with exposure to UK economic policies.
SPY, as an ETF tracking the S&P 500, includes companies that may have operations in the UK. Changes in UK tax policy could indirectly affect these companies, but the impact is likely limited in the short term.
CONFIDENCE 70
IMPORTANCE 40
RELEVANCE 30
NEUTRAL IMPACT
VGK, an ETF focused on European stocks, may be impacted by the UK's tax policy changes, particularly the increase in private equity tax.
VGK includes UK stocks, and the tax changes could affect the profitability of private equity firms and other businesses in the UK, potentially impacting the ETF's performance.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 50