What are your Budget predictions?
What do you think the Chancellor is going to pull out of the hat in today’s budget?
In last year’s Autumn Statement the big surprise was the radical overhaul of Stamp Duty.
Many commentators seem to be expecting a relaxation of pension rules to make annuities accessible as well as a reform of the annual tax return system to make it easier.
The personal allowance threshold may be lifted to £11,000, and there may be tax cuts for the oil and gas industry to offer some relief as the price of oil plunges.
Although the Chancellor George Osborne has insisted on a ‘no leaks’ policy this year, there does seem to be a consensus that money will be knocked off alcohol while duty on tobacco will continue to rise.
Further details and a quickening of the pace of reform of business rates would also be welcome, while the Chancellor must do all he can to support the construction and property markets.
Long overdue reform of inheritance rules would be among the welcome moves.
Despite his protestations that there will be no pre-election giveaways or sweeteners, Mr Osborne is sure to pull some kind of rabbit out of his hat.
Last time it was Stamp Duty, let’s hope an equally a (pleasant!) surprise this time around.
The Budget will be live on TV and online at 12.30pm today. Visit www.bbc.co.uk/news/uk-politics-31929772 for more commentary and live coverage.
What do you think the Chancellor is going to pull out of the hat in today’s budget? In last year’s…