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City Reaction

Stephen Edge Slaughter and May concludes that there was less in the way of anti-avoidance measures in the PBR than was feared but more in the way of administrative detail than was hoped for
The overall City reaction to the PBR was somewhat muted. There seems to have been more interest in the economic outcome than in the fiscal measures proposed.
Again the Chancellor illustrated his penchant for detailed low level policy initiatives (which last year generated a Finance Bill of more than 400 pages in length for a budget that many said had been a 'non-event') while indicating that he was going to press on with Corporation Tax Reform.
It was surprising that the PBR contained so little in the way of anti-avoidance measures. With all...

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