PM Announces Plans To Weaken RVP
May 11, 2023
The PM has announced up to 3% tax cut in councils, with a 4% tax cut in the city centre. The PM has stated in order to improve the economy, the government must weaken the RVP against the dollar, to allow new trade deals to take place. PM stated the following, “Currently at the moment, the RVP is the 4th strongest currency - which is leading to economic difficulties for us, as no one is wanting to open trade deals in our currency. This is why we are going to weaken it”. It is said inflation will spike by 1.28% the BORV said. Alongside this, interest rates will rise with the pound, from 0.5% to 1.5% in an attempt to smoothen out the inflation spike that will be caused by this. It is said without the interest rate rise, inflation would actually sharply increase by 7.1%.
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