purchasing power

According to ratings agency Crisil, lower taxes will benefit a third of an average consumer's monthly expenditure basket and improve the middle class's purchasing power.

Beyond incentives and demonstrating its own purchasing power, environmental advocates say, California and local regulators must continue to adopt innovative regulations within their own authority.

The rationale behind their higher rates is unclear, but Dr Deborah Elms, head of trade policy at the Hinrich Foundation, suggests their limited market access, low purchasing power, and close ties with China may have influenced the White House's decision.

The announcement also strengthened the Japanese yen against the US dollar, giving manufacturers more purchasing power to buy the raw materials they need to expand their businesses.

“But we have to recognize that the state, institutions and both local and foreign businesses offer different treatment to those with greater purchasing power.”