FinancialAdvice.co.uk Logo

Qualified advisers answering your
Financial Questions
call 0800 092 1245

Big Tax Rises Expected Later In The Year

While the Chancellor Alistair Darling took the brave and well received step of tackling the disastrous abolishment of the 10p tax band, it seems that things may get a little worse in the second half of 2008. Many experts feel that the move, which cost £2.7 billion, will need to be funded by higher taxes in the later part of 2008 and 2009. So what is happening?

Many observers feel that the government took a short term decision to reimburse the majority of those who lost out when the 10p tax bad was abolished, but will need to fund these changes in due course. The clever money seems to be on an increase in National Insurance payments which will impact on the whole business sector at a time when it can least afford it.

It seems as though the authorities were convinced that recent changes would see the electorate fall back in line on the side of the Labour Party, but polls since then have shown otherwise. It seems that whatever Gordon Brown does at this moment in time there is always an ulterior motive. The move to try and increase the standing of the Labour Party in the polls has backfired if anything.

Share this..

Related stories

Financial Guides

Financial Calculators

Our useful calculators can help you get your finances in order:



Latest News

Blogs

Helpful new tax year facts that could affect you and your money


Blog | Seven helpful new 2016/2017 tax year facts that could affect you and your money. Our recent online blog shares a brief outline on how to stay up to date.


Read more

Useful Links

Popular Searches

Please Enter More Details

 
Enter More Details
Continue