Peter Vaines shares his views on Phillip Hammond’s first & last spring budget
This was Mr Hammonds first spring Budget (and also his last) and he lived up to his “spreadsheet” reputation by providing endless lists of forecasts, figures and statistics so that 20 minutes in, no matter how good they sounded, I had practically dropped off.
Mr Hammond’s figures were met with a rather stony-faced opposition who clearly did not appreciate the frequent references to the LAST Labour government. Mr Hammond was keen to make it clear that the UK would be the best place in the world to start and grow a business and the reductions to corporation tax enabling companies to pay the lowest corporation tax rate in the G7 were clearly something to be welcomed. Unless you were planning to set up a company to do business and take advantage of the low tax rate. He was equally clear that setting up companies to do business is a BAD THING needing to be discouraged—indeed tax penalties will be imposed. I am not sure I am
