Dek: The decision to scrap a VAT exemption for travelers to the U.K. will be felt most by the country’s luxury retailers, which are largely dependent on Chinese and other international customers now subject to a 20% tax on purchases. Of all the policy miscalculations...
Last month, when then-Chancellor of the Exchequer Kwasi Kwarteng announced sweeping tax cuts in the U.K., the currency markets reacted with swift retribution for what was perceived as a reckless decision that prioritized free market zeal over fiscal responsibility. In the weeks since, the government...
