UK Budget report: 5 things to watch out – FT
|The Financial Times (FT), in its article, reports five issues that will be watched in the UK Finance Minister Philip Hammond's Spring Statement due later on Tuesday.
Key 5 points to watch out:
“1. The economy
- The most important judgment will be the OBR's new assessment of Britain's productivity growth prospects, which it cut sharply in November.
2. The public finances
- The OBR indicated last month that it will make a "significant" downward revision to its estimate of public borrowing for 2017-18.
- The improvement in the public finances over the past six months means that Britain has eliminated the deficit on its day-to-day budget.
3. Tax consultations affecting companies
- Mr. Hammond is to launch a consultation into a problem with the value-added tax.
4. Tax consultations affecting people
- A consultation on trusts.
- Inheritance tax ... could lead to a new consultation.
5. Is Treasury brevity going to last?
- This is not the first time a chancellor has pledged to have only one Budget a year.”
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