Brexit Frees Britain From Carbon Taxes

Brexit Frees Britain From Carbon Taxes

Editor: Vladimir Bajic | Tactical Investor

Random  Article of the Week

The one-year chart indicates that things appear to be going smoothly on the surface, and injecting large amounts of money into the markets seems to yield positive results. Even if the index were to decline all the way to 7200, the short-term outlook would still be optimistic. We acknowledge that this economic recovery may be deceptive, but merely complaining and expressing discontent does not offer any additional market insights.

While it is said that the truth can bring freedom, in many cases, it can prove detrimental to one’s health and wealth, particularly when it comes to the financial markets.

BBC Global 30 Index indicating SP500 ready to surge higher

When examining the longer-term chart, it becomes apparent that the index is in a consolidation phase. As long as it does not consistently close below 6600 on a monthly basis, the overall outlook remains optimistic. In fact, one could make the case that the index is forming a solid foundation, potentially serving as a launching pad for a move towards and beyond 8400. The current pullback is ideally expected to conclude within the 7100-7200 range, with a potential overshoot into the 6900 range. BBC Global 30 Index Signals Dow Industrial Index will trend higher


Engaging Article Worth Exploring: Next Stock Market Crash Prediction: Hype Or Hope

Brexit Frees Britain From Carbon Taxes

In the UK, a proposed tax is set to replace the EU emissions trading system, where the prices for permits have surged close to €30/t ($33) and are projected to continue rising. Coupled with the depreciation of the pound, this scenario suggests the possibility of a considerably lower carbon price in Britain compared to that of the continent.

Implementing this tax will occur if the UK fails to secure a withdrawal agreement with the EU by the deadline of 31 October, which marks its departure from the bloc.

Lowering the carbon price below that of the EU would not be viewed favourably for the UK. It would establish an unfavourable precedent for carbon pricing, which is why caution is advised in such a decision.  Full Story

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