The extra billions Clarke has up his sleeve
Article Abstract:
UK Chancellor Kenneth Clarke's forthcoming 1996 Budget will, as all other budgets, will be unimportant compared with the built-in factors which have an impact on the public sector borrowing requirement without him having to acknowledge them. Tax income will rise by 2.5 billion pounds sterling in 1997 simply through real fiscal drag and the rise in tobacco and fuel duties, although 1.5 billion pounds sterling of this will be eliminated as a result of the second year effect of the rax reductions contained in the 1995 Budget. Public spending will fall by a total of 2.5 billion, and the public sector borrowing requirement will be down by around 4 billion pounds sterling, regardless of the measures contained in the 1996 Budget.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1996
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The Chancellor sharpens his axe
Article Abstract:
Many observers believe that UK chancellor Kenneth Clarke's forthcoming 1996 Budget will be greatly influenced by political considerations. It is unlikely that extensive reform of the tax system will be undertaken, despite strong pressure from lobby groups, but it is expected that the basic rate of income tax will be reduced. The Budget will probably not remove large numbers of people from the tax system altogether, as such a strategy would not be a great vote-winner.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1996
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Dear Ken, a quiet work in your ear from four former Chancellors ...
Article Abstract:
UK chancellor Kenneth Clarke should ensure that his forthcoming 1996 Budget errs on the side of caution, according to former chancellors Roy Jenkins, Denis Healy, Geoffrey Howe and Norman Lamont. The present chancellor has done well to resist the temptation to make large pre-election tax cuts, and has been very effective within the constraints imposed upon him by the government, according to Roy Jenkins. Denis Healy believes that Clarke should actually raise taxes.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1996
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