The Treasury did not want the Spring Statement to be a mini budget, but it was, and it fell well short of expectations, damaging Rishi Sunak’s reputation. The question is whether the chancellor’s tax plan, published alongside the statement, will open the way to meaningful tax reform over the medium term, or whether it just provided justification for his decision to pre-announce a cut in income tax.
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The Treasury did not want the Spring Statement to be a mini budget, but it was, and it fell well short of expectations, damaging Rishi Sunak’s reputation. The question is whether the chancellor’s tax plan, published alongside the statement, will open the way to meaningful tax reform over the medium term, or whether it just provided justification for his decision to pre-announce a cut in income tax.
If you are not a subscriber, subscribe now to read this content.
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