Autumn Statement wish lists
Organisations across the UK have been publicising their wish lists for Philip Hammond’s first autumn statement later this week.
Amongst tax practitioners there seems to be a preference for increases in the Inheritance Tax threshold and the merger of income tax and National Insurance.
Northern business leaders are keen to see investment in roads and infrastructure, and incentives to invest and grow job opportunities.
There is a general consensus that we need to step up investment to improve access to super-fast broadband. Manufacturers would also like to see plant and machinery removed from business rate calculations.
Greens are hoping for investment incentives for green energy development and carbon capture.
In order to meet the increasing costs of care for the elderly, there is an expectation that a scheme will be announced to promote long term saving to meet these costs.
According to the pensions industry, less is more. They are hoping that Mr Hammond will leave them alone and resist the temptation to make the pensions’ tax rules ever more complicated.
Underlying all of these concerns is the uncertainty generated by the effects of our withdrawal from the EU. No doubt the Chancellor will aim smooth the transition, and on Wednesday this week we will finally see what number 11 is going to offer.
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