Taxpayers 1, Public Spending Nil – EY Budget comment

19 March 2014

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Chris Sanger, EY’s head of tax policy comments: “In a pre-election Budget, the Chancellor used £7 billion taken from the public service pensions revaluation and extension of the spending cuts from the Autumn Statement, to deliver a Budget he will hope will still be in the minds of voters in 413 days’ time. With 34 measures today, he spread the money across manufacturers, exporters, workers, pensioners and bingo players. This felt like a big giveaway, but the 54 measures from past announcements that still have time to run will keep the net effect quite muted.

“Overall, this was clearly targeted to give the most bang for his buck … or rather his new £1 coin.”

For more information on the 2014 Budget, visit the EY 2014 Budget page.