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16-Oct-22, 02:36
The Caithness Business Index (http://www.caithness-business.co.uk) has posted the following article:
Prime Minister Reverses 45 Per Cent Of Her Tax Cuts But Leaves The New Chancellor Two Weeks To Fill Britain's £20-40 Billion Economic Credibility Gap
The dramatic mini-Budget reversal, in which the Prime Minister sacked her Chancellor and re-instated the previous Chancellor's plans to increase corporation tax from 19 to 25 per cent, means that 45 per cent of the tax cuts announced on 27 September have now been abandoned, the Resolution Foundation said today (Friday). However, the combination of £25bn of remaining tax cuts and a deteriorating economic outlook (particularly rising debt interest costs) means that Jeremy Hunt, the new Chancellor, may still face some tough tax and spending decisions if he is to show the government is credibly committed to getting debt falling when the Medium-Term Fiscal Plan is announced in just two weeks' time. [Read Full Article (https://caithness-business.co.uk/article/18008)]
Prime Minister Reverses 45 Per Cent Of Her Tax Cuts But Leaves The New Chancellor Two Weeks To Fill Britain's £20-40 Billion Economic Credibility Gap
The dramatic mini-Budget reversal, in which the Prime Minister sacked her Chancellor and re-instated the previous Chancellor's plans to increase corporation tax from 19 to 25 per cent, means that 45 per cent of the tax cuts announced on 27 September have now been abandoned, the Resolution Foundation said today (Friday). However, the combination of £25bn of remaining tax cuts and a deteriorating economic outlook (particularly rising debt interest costs) means that Jeremy Hunt, the new Chancellor, may still face some tough tax and spending decisions if he is to show the government is credibly committed to getting debt falling when the Medium-Term Fiscal Plan is announced in just two weeks' time. [Read Full Article (https://caithness-business.co.uk/article/18008)]