The 2011 UK Budget: hopefully boring with the promise of tax reform


March 2011. A boring 2011 budget that keeps to the spending and revenue framework announced last year would be desirable. Any sense that the government is spending recent stronger-than-expected revenues is in danger of being interpreted by the bond market as a lack of commitment to the long-term goal of eliminating the budget deficit in 2015-16. The danger that growth and employment levels come in below those used in the Treasury’s forecasts suggest that growth-friendly measures on the supply side would be appropriate. The government’s own initiative to simplify the tax code, given the burden created by 1,042 reliefs and allowances, may start to bear fruit. (Leer más)

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