Goodbye Tax Breaks, Hello Profits

Article Abstract:

Business tax reforms proposed by the British Chancellor of the Exchequer, Nigel Lawson, in his budget presented before Parliament are outlined. Among the more significant changes are: the abolition of the national insurance surcharge on company payrolls, reduction of corporate tax rates, and cuts in capital allowances. The budget reforms will very likely discourage buying stakes in existing North Sea oil fields.

Interpretation and construction, Taxation, Tax law, Corporate taxes, Corporations

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Splutter and Fizz, but Some Way Short of Bang

Article Abstract:

The government budget presented by British Chancellor of the Exchequer, Nigel Lawson, introduces only modest reforms. Public spending is expected to remain at the same level in real terms through 1988-89. Changes in company taxation laws are proposed. The budget was favorably received by Parliament and the media.

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Lawson's Room for Manoeuvre

Article Abstract:

The proposed British budget will probably contain few surprises. The government's economic strategy appears to be working so there will not be much need for change. The Treasury has room to maneuver because of the large margin for error in the forecasts. A table gives the cost of budget options.

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