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Israel Prime minister Benjamin Netanyahu and Itamar Ben Gvir shake hands as the Israeli government approve Netanyahu's proposal to reappoint Itamar Ben-Gvir as minister of National Security, in the Knesset, Israeli parliament in Jerusaelm, March 19, 2025

REUTERS/Oren Ben Hakoon

Israel gets “budget of war” amid new plans for Gaza and West Bank

Israel’s Knesset on Tuesday approved its 2025 budget by a vote of 66 to 52, days before a March 31 deadline that would have otherwise triggered an election. Described as a “budget of war, and with God’s help … a budget of victory,” by Finance Minister Bezalel Smotrich, the bill includeda 21% increase in spending over 2024, with a record defense budget of 110 billion shekels (US$30 billion) out of a total budget of 756 billion (US$205 billion).
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FILE PHOTO: Canada's Foreign Minister Chrystia Freeland speaks during a news conference at the Canadian Embassy in Washington D.C., U.S. June 13, 2019.

REUTERS/Carlos Barria/File Photo

Freeland to miss her target, thanks to Trudeau

Canadian Finance Minister Chyrstia Freeland is expected to reveal Monday that she has missed the $40.1 billion deficit target that she set for herself last year, the latest in a long string of fiscal targets Justin Trudeau’s government has missed over the years.

Freeland said Tuesday she expects the fall economic statement, which she will present on Dec. 16, will show a declining debt-to-GDP ratio, but she did not mention the deficit target. “I chose my words with care because it is important to be clear with Canadians. It is important to be clear with capital markets.”

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French Prime Minister Michel Barnier leaves following the weekly cabinet meeting at the Elysee Palace in Paris, France, on Nov. 27, 2024.

REUTERS/Stephane Mahe

French government barrels toward a brick wall

In France, political push came to shove on Monday, as Prime Minister Michel Barnier moved to ram a controversial pensions finance reform bill through the Assemblée Nationale, France’s lower (but more powerful) house of parliament. To do this, he relied on Article 49.3, a constitutional provision that allows a prime minister to advance legislation without a vote in parliament.
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German Finance Minister Christian Lindner, Economic Affairs and Climate Action Minister Robert Habeck, and Chancellor Olaf Scholz attend the 2024 budget debate session of the German lower house of parliament, the Bundestag, in Berlin, Germany, earlier this year.

REUTERS/Fabrizio Bensch/File Photo

Will Germany’s ruling coalition survive the winter?

Germany’s coalition government is seemingly on the rocks as Berlin contends with a stagnant economy and the three ruling parties — the Social Democrats, the Free Democrats, and the Greens — offer competing visions for a way forward.
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FILE PHOTO: A placard reads, "deport AFD now", during nationwide protests against racism and plans of Germany's far-right Alternative for Germany (AFD) party to deport foreigners, in Bonn, Germany, January 21, 2024.

REUTERS/Wolfgang Rattay

Can Germany defund its own far-right?

Germany’s Federal Constitutional Court ruled Tuesday that the small far-right Die Heimat party may not receive funding from the federal government because of its anti-democratic and ethno-nationalist goals. Die Heimat isn’t a big player in German politics, but the Alternative für Deutschland is. And as AfD is drawing the support of about 23% of Germans, according to recent polls, centrist parties are eyeing the same pathway to box them out financially.

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U.S. House Speaker Kevin McCarthy (R-CA) arrives to deliver a statement on allegations surrounding U.S. President Joe Biden and his son Hunter Biden, as the House of Representatives returns from its summer break facing a looming deadline to avoid a government shutdown while spending talks continue on Capitol Hill in Washington, U.S., September 12, 2023.

Elizabeth Frantz/ Reuters

Will the House GOP’s Biden impeachment probe backfire?

After much back-and-forth in recent months, embattled House Speaker Kevin McCarthy has officially launched an impeachment inquiry against US President Joe Biden.

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US summer travel may be easier than you think, says Pete Buttigieg

Memorial Day weekend signals that the unofficial start of the summer travel season is upon us. And if last year’s travel woes were any indication (paging: Southwest Airlines), we can expect long lines at TSA, full planes stranded on the tarmac, and lots and lots of cancellations. But, according to US Transportation Secretary Pete Buttigieg, things are not as dire as they may seem.

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Key Japanese lawmaker says third extra budget may not be last

November 30, 2020 5:00 PM

The openness to more spending underscores concerns that rising waves of the virus could derail Japan's recovery.

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