The first Budget after a general election has often been the one in which the largest tax increases are announced. From a political viewpoint the timing makes good sense: it is the Budget furthest away from the next election. An added benefit is that the Budget’s contents can most easily be blamed on the previous regime, if there has been a change of government. In October 2024, both these factors apply, with an hors d’oeuvre of a newly discovered ‘£22 billion black hole’ already having been served three months ago.
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Please note: This document was produced by Technical Connection Limited. It is provided strictly for general consideration and no action must be taken or refrained from based on its contents. Accordingly, neither Technical Connection nor any of its officers or employees can accept any responsibility for any loss occasioned as a result of any such action or inaction. 31st October 2024.
