Budget 2005 Tight, but not quite as tight as it looks
Mondaq Business Briefing › United Kingdom Law Articles in English (2005)
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Budget 2005 Tight, but not quite as tight as it looks
Roger Bootle, Deloitte's Economic Adviser, comments on the Budget:·
For a pre-election Budget, this was a pretty restrained affair. Indeed, the tax and spending measures add up to a small fiscal tightening of £265m in 2005-06, a far cry from the giveaway of up to £5bn some commentators had expected.The true "tightness" of the Budget is exaggerated a bit, however, by the fact that the tax cuts and spending measures are partly financed by a projected reduction in tax avoidance, worth up to £1bn in 2006-07. Moreover, the usual reduction in the margin included in the spending plans, and an increase in projected ...See the full content of this document
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