The losers

Article Abstract:

Norman Lamont's tax proposals do not raise the basic income tax rate, yet they burden the common taxpayer as much. Revenue increases will come from value added tax on domestic fuel, an increase in the national insurance contribution rate and excise tax increases for beer and tobacco.

Taxation

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The signal from sterling

Article Abstract:

Chancellor of the Exchequer Norman Lamont must take the opportunity to reduce public borrowing in the new UK budget because a high rate of borrowing leads to high interest and problems with exchange rates. Tax coverage should be increased so tax rates can be cut.

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A disappointing start: Gordon Brown showed in his first budget that Britain's new chancellor is neither iron nor principled

Article Abstract:

Brown's budget will not live up to his promise to prepare Britain to meet 'the new and fast-changing global economy.' The budget is likely to increase interest rates and inhibit corporate investment.

Cover Story, Brown, Gordon (British politician)

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