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A Big Splash With Little Cash: Budget 2012
Oleh:
[s.n]
Jenis:
Article from Bulletin/Magazine
Dalam koleksi:
The Economist (http://search.proquest.com/) vol. 402 no. 8777 (Mar. 2012)
,
page 58-59.
Topik:
Economic Policy
;
Politics
;
Taxation
;
Foreign Investment
Ketersediaan
Perpustakaan Pusat (Semanggi)
Nomor Panggil:
EE29.71
Non-tandon:
1 (dapat dipinjam: 0)
Tandon:
tidak ada
Lihat Detail Induk
Isi artikel
On March 21st, when George Osborne delivered his third budget, the official forecasts for the economy and public borrowing were barely changed. And Mr Osborne offered little in the way of direct stimulus to the economy. His budget gave away a few billion but will eventually raise as much through other measures. Yet through a handful of astute tweaks to the tax system, coupled with an "unwavering" commitment to cutting the deficit, the chancellor tried to send a strong signal that Britain is a profitable place to invest. The bravest measure was a cut in the top rate of income tax from 50% to 45% from next April; the costliest was a Pounds 1,100 ($1,745) increase in the personal tax-free allowance; and the signature measure was a further reduction in the main corporate-tax rate (see table). The other biggish cost to the exchequer was a partial U-turn on child benefit. This was to be taken away from families with a higher-rate tax payer, but will now be gradually withdrawn from those earning more than Pounds 50,000. These giveaways were paid for by raising other, smaller taxes--including higher stamp duty on extremely expensive homes--and by closing loopholes.
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