The Budget for 2008 will be delivered to the House by Alistair Darling on
Wednesday 12 March, the chancellor announced on Thursday.
Darling faces a difficult balancing act. The economy is slowing and various
think tanks believe that government debt is climbing and tax revenues are set to
The Institute of Fiscal Studies believes Darling will have to raise an
additional £8bn in taxes to balance the government books.
‘The Chancellor should be tightening policy to stay within the fiscal rules;
but tax increases or public spending cuts would reinforce the economic slowdown
expected this year. Cutting taxes looks dangerous on public finance grounds but
raising them carries economic risks,’ KPMG’s chief economist Andrew Smith said.
The Budget will also see the the chancellor provide an update on the Poynter
Review into the lost discs crisis at HM Revenue & Customs. Further details
on the foreign profits consultation are also expected.
Changes to the tax system is urged to support the growth of entrepreneurs, found a report from the Grant Thornton UK, the Institute of Directors, and the Prelude Group
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
Government's estimate of a £400m admin saving from Making Tax Digital is way off - and is instead a huge cost burden, warns Lamont Pridmore chief executive Graham Lamont
Crowe Clark Whitehill , the top 20 accountancy firm, has announced the promotion of Chris Mould to partner