Shadow chancellor George Osborne has pledged to create an office for Budget
responsibility to ensure future governments keep within borrowing rules to
maintain financial stability.
He told the Conservative party conference it would be independent of
government, like the Bank of England, and will ‘stand in judgment over our
commitments, hold us to our promises’.
But he made it clear it will lack direct enforcement powers and rely on being
able to ‘let the whole country know if we try to wriggle out of them’.
He said there would be ‘no more fiddling of the rules, no more dodgy
statistics, no more hidden PFI borrowing’ and ‘chancellors will be forced to
behave responsibly with the public finances or face the public consequences’.
The new Office for Budget Regulation would present fiscal forecasts,
including a judgement of the sustainability of public finances.
"The whole idea of HMRC officials supplying confidential information about individuals to the media on a non-attributable basis is, or should be, a matter of serious concern," say Supreme Court judges
UK-based non-doms have paid ten times more tax than the average taxpayer, raising concerns over the Brexit impact on non-dom contributions and therefore, the economy
A senior MP has questioned the impact of HMRC’s decision to undertake yet another radical overhaul of its internal structure
The Apple Tax situation; Accountants replaced by robots; and The Accountancy Age Top 50+50; all discussed by head of editorial Kevin Reed