It was revealed this week that the tax take from UK corporations and individuals fell during January and February on the same period in 2001, increasing fears that Chancellor Gordon Brown may introduce new tax hikes in his April budget.
According to a report in Accountancy Age magazine on Thursday, income tax receipts for January-February 2002 have fallen 3.1%, while corporate tax collection has dipped by an alarming 18.9% on the same period last year.
Although previous Treasury figures have revealed that the Chancellor is currently sitting on a fairly healthy surplus, economists have warned that planned Government spending levels may mean that deficits predicted for future years could be even greater than expected. This announcement will doubtless increase pressure on Mr Brown from some quarters to introduce tax increases in his budget next month.
.
Network Tweets
Network BlogsContent
provided by
|
Archive | Resources | Partners | Site Map | Links | Newsletter Archive | Contact | RSS Feeds | About | Syndication | Advertising & Marketing | Recruitment | Terms & Conditions | Privacy & Cookies
Copyright © 2012 - All Rights Reserved - Tax-News.com
IMPORTANT NOTICE: Tax-News.com has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments.
Write a comment