Argentina’s tax revenue was at last count the largest and fastest growing in the region, the UN Economic Commission for Latin America and the Caribbean (ECLAC) revealed on Monday. At 37.3%, the latest tax revenue-to-GDP data put Argentina ahead of Brazil, with tax revenue worth 36.3% of its GDP in 2012 — and a few percentage points above the average for OECD countries at 34.6%.
Bank of England has chosen not to inject any more money into the economy, leaving its quantitative easing (QE) programme at £375bn. The Bank also left interest rates unchanged at 0.5%.