BusinessCompany NewsRevenues fall prompting tax hike fears

Revenues fall prompting tax hike fears

The take from corporation and income have fallen this year, increasing the pressure on Gordon Brown to increase revenues at next month's Budget.

Receipts from income tax are 3.1% lower than in January and February last year while corporation tax has dipped 18.9% lower.

Even though the chancellor is juggling a resonably healthy surplus, deficits predicted for future years could be even greater than expected if he goes ahead with planned spending plans.

According to reports in the national press the pressure in on Brown to bring in hefty tax increases as a result.

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