John Hawksworth Head of Macroeconomics PricewaterhouseCoopers feels the Chancellor has deferred tough choices on tax and spending
The Chancellor gave a typically bullish performance in his Budget on 16 March. He stuck to his forecasts for economic growth and public borrowing but still found room for modest but carefully targeted tax cuts for working families and home-buyers and a one-off council tax rebate for pensioners. These were paid for primarily by additional anti-avoidance measures and a change in the timing of North Sea tax payments that will net the Chancellor an extra £1.1 billion in 2005/6. But are the Chancellor's forecasts credible or has he just put off the tough choices on tax and spending until after the general election?
Treasury growth forecasts...
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John Hawksworth Head of Macroeconomics PricewaterhouseCoopers feels the Chancellor has deferred tough choices on tax and spending
The Chancellor gave a typically bullish performance in his Budget on 16 March. He stuck to his forecasts for economic growth and public borrowing but still found room for modest but carefully targeted tax cuts for working families and home-buyers and a one-off council tax rebate for pensioners. These were paid for primarily by additional anti-avoidance measures and a change in the timing of North Sea tax payments that will net the Chancellor an extra £1.1 billion in 2005/6. But are the Chancellor's forecasts credible or has he just put off the tough choices on tax and spending until after the general election?
Treasury growth forecasts...
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