Autumn Statement: In Denial

Autumn Statement: In Denial

With Government finances seemingly out of control, the economy is rushing towards the financial cliff edge. The chancellor tried to be upbeat last Tuesday, but the serious state of the economy cannot be hidden. Spending is up 22% on a year ago and without wholesale cuts to departments combined with tax rises, another financial crisis looms. The OBR now reckons HMRC will collect £633B in 2015-16 – or £31B [5%]  less than expected just 9 months ago. This is double the amount of what was collected in 1997/98 & the Chancellor is still unable to balance the books.

Individuals and business owners should protect themselves NOW from the tax rises to come.

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