Bill Dodwell, head of tax policy at Deloitte,
considers what tax measures the Chancellor is expected to focus
upon in the Budget on 20 March, and what we already know is in
Finance Bill 2013:
Sluggish growth is keeping public spending up and tax revenues
down. Many economists expect the deficit in 2012-13 will be similar
to, or higher, than in 2011-12.
For the wider economy the worst is probably past. The Office of
Budget Responsibility and most other independent forecasters expect
the economy to grow modestly in 2013-14. However, for now, at
least, this looks like a choppy, fragile recovery. The Prime
Minister is keen to point out the lack of magic money trees in his
economic forest. He has been careful to dampen down public
expectations about big tax giveaways in the forthcoming Budget.
