We are near the midpoint of the coalition government’s term in office so, arguably, the 2012 Budget was the Chancellor’s last opportunity to introduce radical reforms that could have a real impact in time for the 2015 election. It was also his chance to talk up the prospects for the British economy.
Major reforms were announced, particularly in the area of tax avoidance, but it was generally a Budget of give and take. Further reductions in the corporation tax rate, coupled with confirmation of changes to key aspects of the corporation tax regime, are welcome. Taken overall, do the other Budget measures that will impact on quoted companies live up to the Chancellor’s claim that today’s Budget was one for business and growth?