TaxAdministrationTax revenues undershoot estimates

Tax revenues undershoot estimates

Brown faces more trouble as retail slowdown hits VAT receipts

Tax revenues continue to fall short of Budget forecasts, it emerged yesterday
as new government figures created more problems for chancellor Gordon Brown.

Tax revenues are up 7% on the same period in 2004/5, but lower than a
budgeted 8.5% gain.

VAT receipts have not been growing as quickly as the chancellor hoped due to
the retail slowdown.

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