Latest Post

Why are Stanley cups so popular Why do we have Leap Year

The Dow Jones Industrial Average dropped by more than 400 points on October 27th, the day of the Budget 2022.

The Dow Jones Industrial Average fell by more than 400 points on October 27th, after UK Chancellor of the Exchequer Rishi Sunak announced that he would be raising taxes in order to pay for his proposed £20 billion welfare program. The stock market was already down before Sunak’s announcement, but it dropped significantly following his speech. This is despite the fact that most people agree that welfare programs are necessary and could potentially help the economy if they are done correctly.

The UK’s Chancellor of the Exchequer Rishi Sunak announced his plans for a £20 billion welfare program on October 27th during his annual budget speech. As part of this program, he also announced a new tax bracket for those earning over £100,000 per year. This is significant because it is one of the first times in recent history that taxes have been raised in order to fund social programs rather than cut them.