PKF hits out at ‘impossible’ PBR
Accountants concerned today’s pre-Budget report will result in inadequately thought through policy
Gordon Brown’s decision not to call an election after bringing forward the
pre-Budget report has left chancellor Alistair Darling with the impossible task
of regaining the political initiative from the Tories,
The mid-tier firm says it believes the report, to be revealed later today,
would be long on rhetoric but short on substance, with further consultations or
outright delays likely for politically difficult measures.
PKF tax partner Peter Penneycard says: ‘Given that Gordon brown is on the
back foot, Alistair Darling is under pressure to respond to the ideas the Tories
put forward on IHT and non-domiciles but he and the Treasury have not had
sufficient time to calculate fully thought through policies.’
He added that Tory proposals on inheritance tax ‘clearly hit in nerve’ among
voters and that the chancellor was likely to announce a consultation period to
buy the government time to address the issue.