US current account deficit widens more than expected in first quarter

Image
US current account deficit widens more than expected in first quarter FILE PHOTO: Shipping containers are stacked at the port of Los Angeles in Long Beach, California, U.S., March 10, 2026. REUTERS/Caroline Brehman/File Photo Reuters Reuters Wed, June 24, 2026 at 6:29 AM PDT 2 min read WASHINGTON, June 24 (Reuters) - The U.S. current account deficit widened more than expected in the first quarter amid a shortfall on the primary income balance, government data showed on Wednesday. The Commerce Department's Bureau of Economic Analysis said the current account deficit, which measures the flow of goods, services and investments into and out of the country, increased $5.8 billion, or 2.6%, to $226.8 billion last quarter. More from Yahoo Scout How significant is the current account deficit historically? What caused the U.S. current account deficit to widen? What is the primary income balance shortfall impact? How does the current account deficit compare to forecasts? Data for the fourth...

Council tax debt rises to £9bn but here's how you can get help

Image source, Getty Images By Kevin Peachey Cost of living correspondent Published 1 hour ago More than 9bn is owed to councils in unpaid council tax as people continue to struggle with their finances - but some help is going unclaimed. Newly-published data shows that uncollected council tax had risen to 7.4bn in England by the end of March. Data published separately in Scotland and Wales further pushes up the total. Charities say the latest numbers point to a council tax affordability crisis, with a wider group of people struggling to cover essential bills. Although non-payment of council tax can lead to a prison sentence in extreme cases, there are various discounts and support measures in place of which people are often unaware. The latest government data shows that 2.2bn of council tax levied in England during the financial year to the end of March went unpaid. However, 43bn of what was levied during the year was collected, marking a collection rate of 95.6%, according to the Ministry of Housing, Communities and Local Government , external . How much is council tax and what does it pay for? Published 14 April Vikki Brownridge, chief executive of debt charity StepChange, said: "Our advisors know all too well just how deep the council tax affordability crisis runs. "With one in three of those coming to StepChange behind on this bill, these latest figures are no surprise to us and point to a system that perpetuates debt with little to no constructive route out." Charities are urging anyone struggling to check whether they are eligible for council tax discounts and support. They vary depending on your council area , external , but include: A 25% discount for adults living on their own A total exemption from council tax for full-time students People with disabilities being able to apply to move to a different council tax band with a lower bill Help to pay for those on low incomes through Council Tax Support , external , but this too crucially requires making an application. The system is different in Northern Ireland where you may claim housing benefit Charities, such as the National Debtline, say local authorities need more funding to provide support which varies significantly. They have also long campaigned for councils to stop the use of bailiffs and threats of court action and prison , arguing that it stops people seeking help for non-payment. In April, the government published plans to change the collection system for council tax in England, including a change to payment over 12 months rather than the current 10 instalments. Under the proposals , external , people struggling to pay would be given 63 days, roughly two months, to settle their bill. There would also be a requirement for councils to work with them on a sustainable repayment plan. Many councils have demanded the full year's payment after people missed one month's bill. The changes could be introduced next year. Related topics Personal finance Money Cost of Living Council...

🔥 EXCLUSIVE PARTNER OFFER
2025 New T1+ 8K HD TV Box Android 16.0 RK3518 Quad Core 8GB RAM 128GB ROM Dual Wifi 2.4G/5.8G Home Theater Media Player

2025 New T1+ 8K HD TV Box Android 16.0 RK3518 Quad Core 8GB RAM 128GB ROM Dual Wifi 2.4G/5.8G Home Theater Media Player

💎 Exclusive offer! The product everyone is talking about is now at a special price.

Affiliate link — Commission earned at no extra cost to you

© EcoNews DZ — Global Economic & Financial News

Comments

Popular posts from this blog

Writing a Thesis or Paper with AI Tools

Xi wants China to boost demand. Why isn’t it working?

7 Best AI Applications to Enhance Scientific Research