Newsletters
Autumn News
Tin Hats Required
It is the party conference season in the Autumn before a General Election, and the economy is in dire straits. All the political parties are bandying about promises and threats. We have been told some of what Mr Darling proposes to do to fill the holes in the national purse from April 2010, but all the opinion polls suggest that it will be Mr Osborne's problem instead shortly afterwards. So it's hard to plan ahead.One thing seems certain: whether the national accounts will be balanced by deep cuts in public spending or something less drastic, there will surely have to be increases in taxation from whichever party is in power. The deficit looks simply too large for cuts alone to work. The parties argue about the economics of cuts and taxes - we have to hope that they get the balance right and do not stall the economy, making life worse for everyone - but there will have to be both.
The nature of the tax increases and where they will fall may be uncertain, but we will be keeping alert for the traps the Chancellor will set and any opportunities for saving you money. This newsletter explains some of the big issues at the moment - but watch out for more fireworks as the election gets nearer!