Budget 06: Budget neither give nor take says E&Y

The head of tax at Ernst & Young Aidan O’Carroll has described Gordon
Brown’s budget speech as ‘long on rhetoric’ but short on detail.

‘By tinkering at the edge of the system without giving to or taking from any
specific group, the chancellor was able to talk about every sector of the
community without jeopardising the public purse,’ said O’Carroll.

O’Carroll added that Brown spoke about global competitiveness without doing
anything to simplify the tax regime.

He added that the REITs scheme would be ‘revenue neutral at worst’ and
probably raise money for the Treasury.

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