REFLECTIONS ON THE BUDGET

摘要

Perhaps surprisingly, the Budget was more subtle than most commentators had predicted in that its emphasis was upon keeping on-track with deficit reduction and prioritising - by pre-announcing -future increases for 2016/17 and 2017/18 in the personal allowance. In fact, the proposed personal allowances increases of £200 for both 2016/17 and 2017/18 are very small beer. Indeed, it is only that the credit quake has created an expectation where it is considered that the Chancellor has 'given away' something to taxpayers by increasing the personal allowance by less than 2%, ie, below the inflation target set for the Bank of England.