China offers interest subsidies for consumer services enterprises
The maximum loan amount eligible for the interest subsidy for a single entity could be up to 1 million yuan ($139,095), nine government departments, including the Ministry of Finance, said in a statement on Tuesday.
($1 = 7.1893 Chinese yuan renminbi)
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BBC News
3 minutes ago
- BBC News
Giant new data centres to open across the UK
Have you ever wondered how the apps on your phone, the online games you play or the streaming services you watch movies on actually work?Well, the answer is data centres - giant warehouses full of powerful computers - and the UK is about to get a lot more of are currently an estimated 477 of them in the UK but researchers say we could see 100 more in the next 5 years, partly because of the growth of Artificial Intelligence, or government say data centres are vital, but some people are concerned about the huge amount of energy and water the new data centres will use. What is a data centre? You might not realise how big a role data centres play in your life a giant warehouse, packed full of rows and rows of very powerful computers store, process and send out information that we use every single whether you're streaming your favourite TV show, asking an AI chatbot a question, or just browsing the internet, data centres help that data centres, there'd be nowhere for your favourite shows, games, or videos to be stored. There's already nearly 500 data centres in the UK, but more and more are popping up because of the rise of researchers Barbour ABI have analysed planning documents and say over half of the new centres would be in and around London, but there are also plans for some in Wales, Greater Manchester and other parts of the of them are funded by huge US tech companies - think Google and Microsoft. Why are people concerned? Just as the internet runs 24/7, so do data centres and there are also concerns about the environmental impact of these enormous need massive amounts of electricity to keep going, and lots of water to stay cool - and most current owners do not share data about their water water? Well, with all those computers working day and night, data centres can get very hot. If they get too hot, the computers could overheat and break some systems use huge fans to blow cool air around to them keep cool, oher warehouses pump cold water through nearby pipes. But some people are concerned that the huge amounts of water that are needed to keep the computers cool is bad for the environment, and could cause water shortages. Energy is also a big issue. Some experts have warned that the large amounts of energy needed to power data centres could also increase people's energy bills. The fear is that as more energy is being used, the price for that energy will rise for instance, in 2023, data centres made up one fifth of Ireland's energy demand.A spokesperson for the UK government said data centres were "essential" and an AI Energy Council had been established to make sure supply can meet demand, alongside £104bn in water infrastructure investment.
Daily Mirror
33 minutes ago
- Daily Mirror
DWP date confirmed for bank 'monitoring' in list of tough new measures
The UK Government has unveiled the biggest fraud crackdown in a generation - and new factsheets published by the DWP contain details of how the proposals will be implemented The UK Government is embarking on 'the biggest fraud crackdown in a generation' to slash losses within the welfare system. The Department for Work and Pensions (DWP) estimates that the Public Authorities (Fraud, Error and Recovery) Bill will generate savings of £1.5 billion for taxpayers over the coming five years. New measures include driving bans of up to two years for benefit fraudsters who persistently refuse to repay outstanding debts, powers enabling the DWP to seize funds directly from offenders' bank accounts, and Eligibility Verification, allowing third-party bodies like banks to flag potentially fraudulent benefit applications. A series of 11 newly published factsheets from the DWP, providing greater insight into how these measures will function securely with proper oversight, confirms the UK Government intends to introduce the proposed changes from April 2026, reports the Daily Record. The factsheets also include information on safeguards, reporting mechanisms and supervision crafted to ensure the "appropriate, proportionate, and effective use of the powers." Official guidance states: "The Government will begin implementing the Bill measures from 2026. "For the Eligibility Verification Measure, the Government will implement a 'test and learn' approach to ensure the new powers to tackle public sector fraud are being used proportionally and effectively. DWP and the Cabinet Office will continue to work with industry to implement the new measures, consult stakeholders on Codes of Practice and publish guidance." The DWP will also gain powers to collect data from additional third-party organisations such as airlines to check whether individuals are receiving benefits from overseas, potentially violating eligibility requirements. Eligibility Verification Measure The DWP will not have direct access to the bank accounts of millions of people on means-tested benefits including Universal Credit, Pension Credit and Employment and Support Allowance. The department will work alongside banks to pinpoint individuals who may have surpassed the eligibility thresholds for means-tested benefits, such as the £16,000 income limit for Universal Credit - and secure that information to subsequently examine that claimant to avoid potential overpayments and possible fraud cases. The legislation only allows banks and other financial institutions to share restricted data and forbids the sharing of transaction data, which means the DWP will not be able to monitor how people on benefits spend their money. Indeed, the factsheet outlines how banks and other financial institutions could face a penalty for sharing excessive information, such as transaction data. It additionally states: "Any information shared through the Eligibility Verification Measure will not be shared on the presumption or suspicion that anyone is guilty of any offence." New measures to combat fraud have been introduced by the Department for Work and Pensions (DWP). The new Bill aims to fulfil the UK Government's manifesto pledge to protect taxpayers' money, ensuring every pound is used wisely and effectively. New DWP measures to combat fraud The new Bill is designed to fulfil the UK Government's manifesto pledge to protect taxpayers' money. All the powers will include strong safeguards to ensure they are only used appropriately and proportionately - including new inspection and reporting mechanisms. DWP will have a clearly defined scope and clear limitations for the use of all the powers it is introducing, and staff will be trained to the highest possible standards. New powers of search and seizure - so DWP can control investigations into criminal gangs defrauding the taxpayer. Allowing DWP to recover debts from individuals no longer on benefits and not in PAYE employment who can pay money back but have avoided doing so. New requirements for banks and building societies to flag where there is an indication there may be a breach of eligibility rules for benefits - preventing debts accruing. This Bill aims to empower the Public Sector Fraud Authority to: Use new powers of entry, search and seizure to reduce the burdens on the police in the most serious criminal investigations. Reduce fraud against the public sector by using its expertise to take action on behalf of other departments, against those who attack the public sector. Improve fraud management in future emergencies by creating specialist time limited powers to be used in crisis management situations - building on lessons learned during COVID-19. Better detect and prevent incorrect payments across the public sector through new information gathering and sharing powers. Improve the government's ability to recover public money, through new debt recovery and enforcement powers. Use strong non-criminal sanctions and civil penalties to provide an alternative to criminal prosecution and to deter fraud. The Public Sector Fraud Authority will adopt a 'test and learn' strategy with these powers, trialling various methods and expertise to determine the most effective way to combat public sector fraud.
Reuters
33 minutes ago
- Reuters
Indonesia will not introduce new taxes in 2026, finance minister says
JAKARTA, Aug 15 (Reuters) - Indonesia will not introduce any new tax in 2026 to support its tax revenue target and the government will instead rely on internal reforms to increase revenue, Finance Minister Sri Mulyani Indrawati said on Friday. Indonesia's President Prabowo Subianto on Friday proposed to parliament a $234 billion budget, targeting a 9.8% increase in revenue.
