Bill Dodwell, head of tax policy at Deloitte, comments on what
today's Budget means for businesses and individuals
"Although widely expected to be a political knock-around,
in truth the 2010 Budget was as much about delivering a message to
the financial markets that there is a steady hand on the
tiller.
"The forecast for public sector net borrowing for the
current year has been reduced by £11bn (from £178bn at
the PBR to £167bn). This brings the UK's net debt to 54%
of GDP, which is actually better than France, Germany or the US.
The UK deficit at 11.8% remains one of the highest in the world,
although the Chancellor forecasts that the deficit will be more
than halved over the coming four years, flowing from a combination
of tax raises (60% from the top 5% of individuals) and efficiency
savings.
