Contrary to expectations, Rishi Sunak’s third Budget and spending review was a big event. But most of the action was in extra public spending, writes David Smith.
Now that the dust has settled on the Budget the implications of what we saw just a few days ago remain. ‘What just happened?’ is a reasonable question to ask. 27 October saw not just an annual Budget of course but a three-year comprehensive spending review (CSR). It sets the tone for tax and spending for the rest of this Parliament. It means according to the Treasury’s own description the biggest real increase in public spending (£90bn) in any parliament this century. And it means as everybody now surely knows the highest tax burden since the Attlee Labour government of the...
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Contrary to expectations, Rishi Sunak’s third Budget and spending review was a big event. But most of the action was in extra public spending, writes David Smith.
Now that the dust has settled on the Budget the implications of what we saw just a few days ago remain. ‘What just happened?’ is a reasonable question to ask. 27 October saw not just an annual Budget of course but a three-year comprehensive spending review (CSR). It sets the tone for tax and spending for the rest of this Parliament. It means according to the Treasury’s own description the biggest real increase in public spending (£90bn) in any parliament this century. And it means as everybody now surely knows the highest tax burden since the Attlee Labour government of the...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
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