Jam tommorrow

Article Abstract:

The United Kingdom Budget is unlikely to bring tax cuts, according to Nikko Europe. Tax revenues are set to increase and the government could reduce taxes and have enough income, but this would create economic problems. Domestic consumption and the service sector are performing strongly, and the Bank of England could increase interest rates if cuts mean they could grow too strongly. An interest rate rise would hit manufacturers. The government also aims to have enough spare funds to spend prior to an election, when taxes may be reduced.

Economic policy

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Budget U-turn ahead

Article Abstract:

The United Kingdom Mar 1998 Budget could include a change in policy on tax benefits for savings schemes. Individual savings accounts (Isas) may not have a lifetime contributions limit, and investors in personal equity plans (Peps) may be able to retain their tax reliefs. Other changes that could be included in the Budget include changes to inheritance tax and capital gains tax. There may also be measures to control the usage of offshore investments for tax avoidance.

Taxation, Savings accounts

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