We are going through the details of George Osborne’s latest financial statement now. The deficit is still frighteningly high: £108 billion this year according to the new figures in the Autumn Statement. Tax rates have gone up since the fiscal crisis hit but the resulting revenues have been underwhelming and spending is still much too high. The Government has admitted that they will miss their target to start shrinking the national debt as a share of national income by 2015-16.
There were also some policy announcements. There is some really good news, a great reward for the campaigns you have supported, and sadly some bad news. Which means we still have a lot to do in 2013.
What do you think of the Autumn Statement? Any feedback would really be appreciated as we go through the small print.
The House of Commons Northern Ireland Affairs Committee has suggested Air Passenger Duty (APD) on short-haul flights should be eliminated. The tax was said to be a “major stumbling block” to rebuilding the Northern Irish economy. With the Autumn Statement tomorrow, my colleague Rory Meakin earlier suggested that the Chancellor should cut APD to tackle the cost of living. He’s right, and where the Northern Ireland Committee leads, the Chancellor should follow and deliver for the rest of the UK. Continue Reading
George Osborne will deliver his Autumn Statement to Parliament tomorrow and is expected to bring grim news about his progress towards balancing Britain’s books and getting the economy back on track. So what should he say to bring relief to struggling taxpayers and restore balance to the public finances? He should break with the tradition of an ‘update’ Autumn Statement and announce policy shifts. Instead of nonsense about “shovel ready” projects and shuffling taxpayers’ money from one category to another, he should look to four key themes. Continue Reading
The TaxPayers’ Alliance joined up with local retailers and councillors in Cottingham, East Yorkshire, this morning to campaign for a freeze in Business Rates. With the Chancellor of the Exchequer due to give his Autumn Statement tomorrow afternoon, independent shopkeepers sent George Osborne and MPs a message: business rates are crippling our businesses; give us a break and freeze business rates. Continue Reading
At the TaxPayers’ Alliance we believe in smaller government, lower taxes and less burdensome regulation. We believe in these fundamental principles for all people in the UK and abroad. Which is why we are closely watching the outcome of this week’s World Conference on Information Technology (WCIT) in Dubai.
The Digital Economy will bring yet untold benefits to everyone. A recent McKinsey report shows that for every traditional job lost to the Internet 2.6 jobs are created, and in mature markets 21 per cent of GDP growth in the last five years can be attributed to the Internet activities. In the UK there are now over 1,000 start-ups in London’s Tech City and there are many more digital success stories like ARM, whose chips enable digital technologies. Continue Reading