UK Budget, March 21 2007 - Economy
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12.7%
Chancellor sticks to bullish growth forecasts
With a fair wind in his sails, the chancellor saw little reason to deviate from the bullish picture for growth presented in December’s pre-Budget forecast.
FTSE rises on optimism over tax cuts
UK share prices hit a three-week high on Wednesday after Gordon Brown announced income and business taxes would be cut next year.
Asset sales and administrative cuts at the ready
Asset sales, efficiency savings, and big annual cuts in the administrative budgets of government departments were deployed by the chancellor to underpin his public spending plans
Race to close productivity gap key
In every Budget, a restless Gordon Brown throws up fresh initiatives. But there has been one constant theme in all – the need to close the UK’s productivity gap with other big economies.
Boost for London as Islamic finance capital
Ambitious plans to make London the western capital of Islamic finance moved a step closer as the government announced tax relief for sukuk – bonds that comply with Koran
Giving with one hand, taking with the other
The cut in the corporation tax rate, by 2 percentage points to 28 per cent, was hailed as an important step in improving Britain’s competitiveness.
More options for property investors
Investors in ‘authorised’ property unit trusts are set to win the same tax-efficient status as Reits according to a paper issued alongside the Budget.
Tories denounce ‘tax con’
The Tories accused Gordon Brown of offering a ‘tax con not a tax cut’ in his last Budget, but refused to be drawn on whether they would reverse any of the changes when in government.
