Government Announcements

A wide-ranging review of smaller business taxation will have implications for the way that contractors are taxed.

Business groups have given a largely positive reaction to the emergency Budget.

Business groups appear to have accepted the emergency Budget rise in VAT to 20 per cent with a certain resigned stoicism.

Not for a political generation or two has a Budget generated such intense interest. Pre-announcements by the Coalition Government had prepared everyone for large-scale changes to the tax system and for deep public spending cuts.

The government has confirmed that it will be creating a Green Investment Bank.

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