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Treasury Committee report on Autumn Statement

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The Commons Treasury Committee has published its report on the Autumn Statement 2015. Specific concerns expressed in the report included the following.

·        The ‘tax lock’, combined with the chancellor’s commitment to a ‘lower tax society’ is leading the government to find additional tax revenues in sometimes less transparent ways, such as the apprenticeship levy, SDLT surcharge, increases to IPT and dividend taxation.

·        The new SDLT surcharge on additional properties from April 2016, aimed at curbing buy-to-let investment, might harm the private rented sector, creating a shortage of homes to rent.

·        Changes to the OBR’s modelling and assumptions underpinned improvements in the chancellor’s fiscal outlook, producing an apparent windfall of £27 billion, but the OBR may in future make alterations that are unfavourable to the public finances.


Issue: 1297
Categories: News