Menu
09/04/2003
Brown’s Budget draws fire from Alliance
Alliance Finance Spokesman Seamus Close MLA has hit out at today’s Budget by the UK Chancellor Gordon Brown as "timid and sleekit".
Mr Close said: "The fact that the Chancellor did not change tax allowances - not for the first year - effectively means that yet again virtually everyone who is working and paying tax will pay more in the current year.
"The stealthy Chancellor continues to stick his hands in our pockets and the impact around the margins could be quite painful. In addition, the one percent increase in National Insurance, which was announced last year, is only starting to bite this month. It is clear that the vast majority of people are going to have less take-home pay.
Mr Close also said that the Chancellor had done “little or nothing” to assist small businesses in Northern Ireland, which he described as the “backbone of our economy”.
He said small businesses were “drowning in paperwork” as they were effectively operating as “unpaid tax collectors and social workers”.
Mr Close warned: "The disincentives to creating employment are rapidly outweighing the incentives."
Business leaders in Northern Ireland had expressed concerns that they may have been the target for taxation increases, but rhe speech revealed no indication that corporate taxation had been directly increased.
The main problem facing the UK Chancellor, as he broke with tradition to make a lunchtime budget speech, is a £12 billion ‘hole’ in his budget plans from last year.
A general slowdown in the economy has adversely affected revenues from industry and with the economy performing much more slowly that anticipated, some analysts are predicting growth as low as 1.5%, yet Mr Brown is bound to increase public spending particularly in the health and education sectors.
However the Chancellor opted to borrow to finance spending pledges and to add £3 billion to the war chest.
(SP)
Mr Close said: "The fact that the Chancellor did not change tax allowances - not for the first year - effectively means that yet again virtually everyone who is working and paying tax will pay more in the current year.
"The stealthy Chancellor continues to stick his hands in our pockets and the impact around the margins could be quite painful. In addition, the one percent increase in National Insurance, which was announced last year, is only starting to bite this month. It is clear that the vast majority of people are going to have less take-home pay.
Mr Close also said that the Chancellor had done “little or nothing” to assist small businesses in Northern Ireland, which he described as the “backbone of our economy”.
He said small businesses were “drowning in paperwork” as they were effectively operating as “unpaid tax collectors and social workers”.
Mr Close warned: "The disincentives to creating employment are rapidly outweighing the incentives."
Business leaders in Northern Ireland had expressed concerns that they may have been the target for taxation increases, but rhe speech revealed no indication that corporate taxation had been directly increased.
The main problem facing the UK Chancellor, as he broke with tradition to make a lunchtime budget speech, is a £12 billion ‘hole’ in his budget plans from last year.
A general slowdown in the economy has adversely affected revenues from industry and with the economy performing much more slowly that anticipated, some analysts are predicting growth as low as 1.5%, yet Mr Brown is bound to increase public spending particularly in the health and education sectors.
However the Chancellor opted to borrow to finance spending pledges and to add £3 billion to the war chest.
(SP)
Related Northern Ireland News Stories
Click here for the latest headlines.
24 October 2024
100 Days Left To File Your Self Assessment Tax Return
The clock is ticking for taxpayers who file Self Assessments. HM Revenue and Customs (HMRC) is reminding everyone that they have just 100 days left to submit their return and settle any tax owed before the January 31st deadline. For those who haven't started yet, HMRC offers a wealth of information and guidance on GOV.
100 Days Left To File Your Self Assessment Tax Return
The clock is ticking for taxpayers who file Self Assessments. HM Revenue and Customs (HMRC) is reminding everyone that they have just 100 days left to submit their return and settle any tax owed before the January 31st deadline. For those who haven't started yet, HMRC offers a wealth of information and guidance on GOV.
23 January 2024
HMRC Issues Self Assessment 31 January Deadline Reminder
HM Revenue and Customs (HMRC) has urged the 3.8 million people yet to file their Self Assessment tax return are urged to "act now or risk facing a £100 penalty". HM Revenue and Customs (HMRC) is expecting more than 12.1 million tax returns to be filed for the 2022 to 2023 tax year along with any payment that is owed. To date more than 8.
HMRC Issues Self Assessment 31 January Deadline Reminder
HM Revenue and Customs (HMRC) has urged the 3.8 million people yet to file their Self Assessment tax return are urged to "act now or risk facing a £100 penalty". HM Revenue and Customs (HMRC) is expecting more than 12.1 million tax returns to be filed for the 2022 to 2023 tax year along with any payment that is owed. To date more than 8.
18 November 2024
69-Year-Old Extradited From Spain To Face Child Abuse Charges
A 69-year-old man has been extradited from Spain to stand trial Northern Ireland for child-related sexual offences that occurred in the mid-1980s and early 1990s.
69-Year-Old Extradited From Spain To Face Child Abuse Charges
A 69-year-old man has been extradited from Spain to stand trial Northern Ireland for child-related sexual offences that occurred in the mid-1980s and early 1990s.
23 October 2023
Just 100 Days Left To Submit Self Assessment Tax Returns
HM Revenue and Customs (HMRC) has issued a reminder to Self Assessment customers that there is now just 100 days left to submit a tax return by the deadline of 31 January 2024. And with the clock ticking down, customers can find various types of help from webinars to step by step guides at the click of a mouse.
Just 100 Days Left To Submit Self Assessment Tax Returns
HM Revenue and Customs (HMRC) has issued a reminder to Self Assessment customers that there is now just 100 days left to submit a tax return by the deadline of 31 January 2024. And with the clock ticking down, customers can find various types of help from webinars to step by step guides at the click of a mouse.
22 November 2023
Chancellor Announces 'Biggest Tax Cut On Work Since The 1980s'
Chancellor Jeremy Hunt has announced "the biggest tax cut on work since the 1980s" in his 'Autumn Statement for Growth' today, Wednesday 22 November.
Chancellor Announces 'Biggest Tax Cut On Work Since The 1980s'
Chancellor Jeremy Hunt has announced "the biggest tax cut on work since the 1980s" in his 'Autumn Statement for Growth' today, Wednesday 22 November.
-
Northern Ireland WeatherThis Evening and Tonight:A dry night, save for a few light showers around the coasts, with prolonged clear spells and light winds bringing a frosty dawn for many in central and southern parts. Minimum temperature -3 °C.
