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Dash for Tax
This week the Chancellor is due to unveil his Pre-Budget Report and there is, unsurprisingly, much speculation as to what he might do.
The Times said Mr. Darling is set to turn the screw on taxpayers to help fill the £175bn gap between the Government’s spending and its revenue in this financial year.
With an election only months away, The Daily Telegraph opined that the PBR will be more timid as the Chancellor defers the timetable for cutting back borrowing and the deficit but at the potential risk of Britain’s credit rating being downgraded.
The Sunday press was more specific, with The Times saying CGT would be left unchanged at 18% and The Telegraph telling readers who were high earners to consider making this year’s pension contribution sooner rather than later. So it might be a real cracker or a damp squib – either way we’ll know on Wednesday.
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Extract from this weeks Financial Marketing Bulletin, issued by RBA Wealth Management Ltd.
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