Osborne Fails To Deliver On Budget?

By Global Tax Weekly

It’s funny how when finance ministers miss their fiscal targets, it’s always somebody else’s fault. According to Chancellor of the UK Exchequer George Osborne, global economic factors are to blame for his latest failure to bring down the UK’s public borrowing requirement. And of course, as Prime Minister Cameron’s front benchers are wont to point out on a regular basis, if the previous Labour Government hadn’t taken the course of action that it did, Britain wouldn’t be in the fiscal hole that the Tories are currently trying to dig it out of.

Anyway, as you’ve probably spotted, it was budget time in the UK last week. Or perhaps it passed you by. After all, they’re becoming about as commonplace as red buses in Oxford Street nowadays. After last December’s “Autumn Statement” (to all intents and purposes, a mid-year Budget announced in the winter), last summer’s post-election Budget, and the swansong Budget of the former Lib-Con coalition last spring, this is effectively the fourth Budget delivered by Osborne in the space of a year. He must be all budgeted-out by now. We certainly are. Not that Osborne is showing any signs of becoming jaded. You’d think he’d be running out of ideas at this point, but the rabbits continue to come thick and fast.

For more information on this, and other topical international tax matters, please visit: https://www.cchgroup.com/roles/corporations/international-solutions/research/global-tax-weekly-a-closer-look

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