Tory shadow chancellor George Osborne has said the Red Book, the document
which contains all the economic assumptions for the UK Budget, is not to be
In an interview for with the
Times today, Osborne said: “The Red Book is largely a work of fiction.
” The FT reports the would-be chancellor saying the book contains over
optimistic growth forecasts and hidden liabilities arising from the pensions and
the public finance initative.
Earlier this year Accountancy Age reported a study which claimed
there could be up to
of PFI liabilities off the government’s balance sheet.
The interview also revealed Osborne at odds with Bank of Governor Mervyn King
who has been reported saying that whoever wins the election will have to make
such swingeing cuts that they could end up out of power for a generation.
Osborne is quoted saying “it will be tough” but he was in public life to make
things better for people.
"The whole idea of HMRC officials supplying confidential information about individuals to the media on a non-attributable basis is, or should be, a matter of serious concern," say Supreme Court judges
UK-based non-doms have paid ten times more tax than the average taxpayer, raising concerns over the Brexit impact on non-dom contributions and therefore, the economy
A senior MP has questioned the impact of HMRC’s decision to undertake yet another radical overhaul of its internal structure
The Apple Tax situation; Accountants replaced by robots; and The Accountancy Age Top 50+50; all discussed by head of editorial Kevin Reed