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Budget — City

 
Steve Edge Slaughter & May comments on the dog that did not bark in the Budget speech namely the ongoing consultation about the UK's multinational tax regime
 
The Government probably wanted the Budget headline to be something along the following lines: 'A Budget that will build on past successes and give us the stability we need for the future to see us through current turbulence.' What they got was 'Chancellor advises us not to drink and drive.'
 
When you look at the Red Book and other materials behind the individual detailed proposals what you see about the Treasury's focus on UK competitiveness is pride at the 28% rate (introduced last year and paid for by the capital allowances changes). What you do not see is any discussion of the...
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