365NEWSX
365NEWSX
Subscribe

Welcome

The budget: what Jeremy Hunt needs to do – and the pitfalls he must avoid

The budget: what Jeremy Hunt needs to do – and the pitfalls he must avoid

The budget: what Jeremy Hunt needs to do – and the pitfalls he must avoid
Mar 03, 2024 48 secs

What should the chancellor do If he’s absolutely determined to cut taxes, Jeremy Hunt should focus on changes that improve the UK’s growth prospects.

Some technical changes to corporation tax and business rates would help, but abolishing distortionary and destructive stamp duties – or cutting them as much as possible – should top the wish list.

Starving public services of resources while doing nothing to make them more productive is a key failure of the last decade.

He should announce a one-year spending review before the summer so government departments don’t go through an election without knowing the budgets for public services just a few months ahead.

Should Exercise some meaningful spending constraint to pave the way for the tax cuts he yearns for but appears incapable of delivering.

Should not He shouldn’t praise the Office for Budget Responsibility’s [OBR] “amazing work” or be bound by its forecasts, which tend to be out by £500m a year or more.

Summarized by 365NEWSX ROBOTS

RECENT NEWS

SUBSCRIBE

Get monthly updates and free resources.

CONNECT WITH US

© Copyright 2024 365NEWSX - All RIGHTS RESERVED