Global Economic News: Tax Lists, Pollution Control, and Critical Minerals Alliance
London, Washington D.C. – Recent developments in global economics include the release of the UK's top taxpayers list, Mexico's efforts to combat industrial pollution, and a multinational meeting to discuss a critical minerals alliance.
The UK's highest taxpayers were revealed in the annual Sunday Times Tax List, with Fred and Peter Done, founders of Betfred, topping the list after paying an estimated £400.1 million in tax over the past year, according to BBC Business. The list also featured notable figures from entertainment and sports, including Harry Styles, Anthony Joshua, and JK Rowling. Manchester City's Erling Haaland, at 25, was the youngest person on the list, with a projected £16.9 million tax payment. Liverpool's Mo Salah was also included with an estimated £14.5 million bill. The list's release coincided with the looming self-assessment tax deadline in the UK, with HMRC extending phone line and webchat services to assist those filing their 2024-25 tax returns. HMRC reported that approximately 1.1 million people missed the deadline the previous year.
Meanwhile, in Mexico, the government announced a series of measures to combat industrial pollution following investigations by The Guardian that revealed high levels of contamination near a factory processing US toxic waste in Northern Monterrey. The government's response includes fines of £4.8 million against a plant.
In other news, ministers from the US, EU, UK, Japan, Australia, and New Zealand are scheduled to meet in Washington this week to discuss a strategic alliance concerning critical minerals, according to The Guardian. This summit aims to address transatlantic ties and reduce reliance on China for these essential resources. The discussions include calls for the US to guarantee a minimum price for rare earths.
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