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For immediate release
Responding to the Budget, John O’Connell, chief executive of the TaxPayers' Alliance, said: “Despite looking good on the surface, under the bonnet this Budget is full of problems for taxpayers. “The chancellor has identified a number of structural weaknesses in the UK economy and has rightly focused on fixing them. But yet more spending increases in coming years will further frustrate households, whose rising tax bills are contributing to the biggest drop in living standards since records began. “While forecasts are heading in the right direction, taxpayers still face funding the cost of government crisis for years to come.”
Responding to the abolition of the lifetime pension allowance, Conor Holohan, media campaign manager of the TaxPayers' Alliance, said: “It’s right to end the punitive caps on pensions that have served to drive people to an early retirement, stifling growth and taking talented people out of the workforce. “Far from just benefitting doctors, this move will ensure workers across all professions can stay in employment for longer if they choose to. “The chancellor was right to end these arbitrary limits on experienced employees.”
Responding to the corporation tax increase, John O’Connell, chief executive of the TaxPayers' Alliance, said: “The corporation tax rise sends the wrong message to firms looking to do business in Britain. “While businesses will welcome the temporary incentives from full expensing, this will only soften the blow of a headline rate going up by nearly a third, which threatens to have a big impact on inward investment. “The result will be lost growth and fewer jobs, as companies think twice about coming to the UK.”
TPA spokespeople are available for live and pre-recorded broadcast interviews via 07795 084 113 (no texts)
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Media contact:
Conor Holohan Media Campaign Manager, TaxPayers' Alliance 24-hour media hotline: 07795 084 113 (no texts)
Notes to editors:
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