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UK Manufacturing Faces Turbulent Times Amid Trade Challenges

British manufacturers are grappling with a challenging economic landscape as trade uncertainties and rising costs weigh heavily on the sector. The S&P Global UK Purchasing Managers' Index (PMI) for manufacturing fell to 44.9 in March, marking its lowest point since October 2023. This decline reflects a contraction in activity, with new export orders dropping at the fastest rate since August 2023. The downturn has been attributed to multiple factors, including the threat of tariffs from the United States, increased payroll taxes, and a rise in the national minimum wage. Smaller manufacturers have been hit particularly hard, with many reporting a decline in new orders and reduced business optimism. Only 44% of manufacturers expect output to increase over the coming year, a significant drop from 56% in the previous month. Geopolitical tensions and economic slowdowns in key markets such as the US and Europe have further compounded the challenges. Despite these headwinds, the servic...
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9 Canadian Tax Credits You Could Claim When Filing This Year


Tax season is upon us, and it’s time to start thinking about filing your taxes. While it can be a daunting task, there are several tax credits that you might not know about that could help you save money. Here are nine Canadian tax credits that you could claim when filing this year:

  1. Canada Training Credit: This refundable tax credit is available to help Canadians with the cost of eligible training fees. You can claim the CTC on your income tax and benefit return for tuition and other fees paid for courses you took in 2023. To claim the CTC, you must meet all of these conditions: you were a resident in Canada for all of 2023, you were at least 26 years old and less than 66 years old at the end of the year, and you have a CTC limit for 2023 on your latest notice of assessment or reassessment for 2022. The maximum amount you can claim for the CTC is $5,000 in a lifetime.

  2. Multigenerational Home Renovation Tax Credit: This non-refundable tax credit is available to individuals who renovate their home to accommodate a senior living with them. The credit is worth up to $10,000 and can be claimed by either the senior or the individual who owns the home.

  3. Canada Workers Benefit: This refundable tax credit is available to low-income workers. It is designed to supplement the income of individuals who are working but earning a low income. The maximum amount you can claim for the CWB is $1,381 for single individuals without children and $2,335 for families.

  4. Donations and Gifts: This non-refundable tax credit is available to individuals who make charitable donations or gifts. The credit is worth up to 29% of the total amount donated.

  5. Interest Paid on Your Student Loans: This non-refundable tax credit is available to individuals who have paid interest on their student loans. The credit is worth up to 15% of the total amount of interest paid.

  6. Canada Caregiver Credit: This non-refundable tax credit is available to individuals who provide care to a dependent with a physical or mental impairment. The credit is worth up to $7,276.

  7. Disability Tax Credit: This non-refundable tax credit is available to individuals with disabilities. The credit is worth up to $8,576 and can be claimed by the individual with the disability or their supporting person.

  8. Digital News Subscription Tax Credit: This non-refundable tax credit is available to individuals who subscribe to digital news outlets. The credit is worth up to $500 and can be claimed for subscriptions to eligible digital news outlets.

  9. Medical Expenses: This non-refundable tax credit is available to individuals who have incurred medical expenses. The credit is worth up to 15% of the total amount of eligible medical expenses.


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