BusinessCompany NewsIraq crisis will delay the Budget

Iraq crisis will delay the Budget

Chancellor Gordon Brown wants to postpone his Budget in the hope the pending Iraq war is over before he has to deliver it.

Link: Brown under fire as Budget D-day looms

A war that starts soon and lasts only a few days would be good for business and consumer confidence and allow Brown to picture a positive economic outlook.

However, the delay will not drag on indefinitely. Treasury officials said Brown would in any case deliver the budget before 5 April to enable tax raises or cuts in the new financial year, the Financial Times reported.

Last year, the chancellor announced his Budget mid-April and the Treasury found tax changes were difficult to implement. Its main change, the 1% increase in national insurance had to be postponed until the following tax year.

Related Articles

M&S business rate liabilities based on £570m rateable value

Company News M&S business rate liabilities based on £570m rateable value

4m Emma Smith, Managing Editor
BDO replaces Deloitte as Mitie auditor

Audit BDO replaces Deloitte as Mitie auditor

8m Emma Smith, Managing Editor
CVR Global appoints partner in London office

Company News CVR Global appoints partner in London office

12m Alia Shoaib, Reporter
FTSE100 failing to provide adequate ethics information

Company News FTSE100 failing to provide adequate ethics information

1y Alia Shoaib, Reporter
Moore Stephens recruits new private client partner

Accounting Firms Moore Stephens recruits new private client partner

1y Emma Smith, Managing Editor
Magma Group announces merger, partner promotions

Accounting Firms Magma Group announces merger, partner promotions

1y Emma Smith, Managing Editor
BDO on ‘recruitment spree’ with multiple partner appointments

Accounting Firms BDO on ‘recruitment spree’ with multiple partner appointments

1y Emma Smith, Managing Editor
Brand strength leads to fee income growth for RSM

Accounting Firms Brand strength leads to fee income growth for RSM

1y Emma Smith, Managing Editor