| The Chancellor, George
Osborne, will present his budget speech on
Tuesday, 22 June, the government has
announced. The Conservative-Lib Dem
coalition had previously pledged that such
a budget would take place within 50 days
of them gaining power.
Given the need to repair the public
finances, it is likely that this Budget
will see the introduction of some tax
rises, with Capital Gains Tax (CGT) and
VAT thought to be likely targets.
The budget is also likely to see the
partial scrapping of the employer element
of the previous government’s proposed rise
in National Insurance, and may also
include some movement towards the Lib Dem
policy of increasing the income tax
threshold to £10,000.
We will keep our clients informed of
any further developments. |
