Thursday, July 01, 2010
Post Budget Thoughts
Every budget is many ways more political than financial. Each government has to decide how much it will raise from taxes & what to spend the money on.
To tackle the UK's budget deficit, Chancellor George Osborne decided he would raise 80% from spending cuts and 20% from tax increases.
The spending cuts will largely be announced in the October review and the tax has been mostly raised by increasing VAT to 20%.
Further information is available in the article I did for the
Posted by Sean Wilson, APFS, Independent Financial Advisors (IFA), Swindon, Wiltshire.
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