Let the City moan - the people's Budget is still a winner
Article Abstract:
City of London experts have been particularly critical of UK Chancellor Gordon Brown's recent Budget for what they regard as its failure to limit consumer spending by not increasing taxes sufficiently and for the abolition of the tax credit on dividends to tax-exempt institutions. This stance fails to take into account the fact that this was actually a fiscally tightening Budget. It introduced additional consumer taxes, and will raise between 3 billion pounds sterling and 4 billion pounds sterling in each of two years. The fact that the government is willing to alienate some sections of the population in the short term is to be welcomed.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1997
User Contributions:
Comment about this article or add new information about this topic:
Frustrated? Blame the Chancellor
Article Abstract:
Some of the measures contained in UK Chancellor Gordon Brown's first Budget have not been as stringent as had been anticipated. He has not completely abolished mortgage interest relief at source, for example, and has only increased stamp duty on houses worth more than 250,000 pounds sterling. However, he has taken negative action against people with personal pensions and those who belong to a money-purchase scheme through the abolition of tax credits for pension schemes. It will now be necessary for individuals to set aside a greater proportion of their income in order to secure funds for retirement.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1997
User Contributions:
Comment about this article or add new information about this topic:
Well-meaning, but gimmicks don't help entrepreneurs
Article Abstract:
UK Chancellor Gordon Brown's 1999 Budget places strong emphasis on the need to assist small businesses. Brown is undoubtedly very enthusiastic about this issue, but it is unlikely that the measures contained in the Budget to assist enterprise will prove effective in practice. Indeed, the new enterprise management incentive scheme can be regarded as no more than a poorly conceived gimmick. Furthermore, the new 10% corporation tax starting rate for companies earning profits of less than 50,000 pounds sterling is not at all what it appears to be.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1999
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: IFS applauds Chancellor's hat-trick. An uphill struggle for the Chancellor. Flexibility or credibility - that's the monetary policy question
- Abstracts: Oxbridge fees: now the battle is just beginning. First timers face the test with tuition fees. Academe runs out of credit
- Abstracts: So, this is the sexiest woman in the world. Prattling on through thick and thin (mostly thin)
- Abstracts: A good time for Clinton to get away from it all. Bill: just a husband in a jam? The President meets his prosecutor
- Abstracts: Commando swoop on Serbs; SAS kill leading war-crime suspect in shoot-out and arrest underling. Kosovo's men of ideas are dragged from homes and shot