Iran’s stockpile of highly enriched uranium has grown enough to easily produce enough fuel for an atomic bomb, the United Nations atomic agency reported Wednesday
; a cut in the value-added tax on natural gas; the postponement of a rise in carbon emissions prices for one year; one-off payments to pensioners and students, and other smaller measures.
France’s price cap and grants to vulnerable households so far amount to about 1.8% of GDP, UBS estimates. In Italy, the cost of similar measures is estimated at 2.4% of annual output, and 1.25% of GDP in Spain. Despite this, bond investors are bracing for a ramp-up in government spending, an expectation that is helping drive up benchmark government borrowing costs across Europe and making it more expensive for governments to borrow their way out of the crisis.
Under new Prime Minister Liz Truss, the U.K. government has signaled it will soon announce its own cap on prices at an estimated cost of around $114.31 billion.While investors expect more bond issuance, there are no signs in the market that they are beginning to question governments’ ability to repay their debts. The EU is discussing introducing a windfall tax on energy producers to help fund aid for the broader economy.
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