http://www.leyton.org/2007/03/21/the-2007-budget/ Thoughts. Comment. Opinion. Sat, 10 Jan 2009 00:37:37 +0000 http://wordpress.org/?v=2.6.2 http://www.leyton.org/2007/03/21/the-2007-budget/#comment-15089 leyton.org » The 2007 Budget (2) - Initial thoughts Wed, 21 Mar 2007 17:00:38 +0000 http://www.leyton.org/diary/2007/03/21/the-2007-budget-2/#comment-15089 <p>[...] So the 2007 budget was delivered with typical aplomb, with the suspected big bang announcement at the end: A 2% cut in income tax, as well as a rise in the lower edge for higher rate tax. Whilst this is welcome, the corresponding dropping of the 10% band offsets a lot of the savings (and could unfairly hit many lower earners not able to claim or understand the complicated tax credits system) and tweaks elsewhere make this appear to be a ‘neutral’ budget in terms of money raised, but with some headline changes that are sure to be welcomed by many. [...]</p> [...] So the 2007 budget was delivered with typical aplomb, with the suspected big bang announcement at the end: A 2% cut in income tax, as well as a rise in the lower edge for higher rate tax. Whilst this is welcome, the corresponding dropping of the 10% band offsets a lot of the savings (and could unfairly hit many lower earners not able to claim or understand the complicated tax credits system) and tweaks elsewhere make this appear to be a ‘neutral’ budget in terms of money raised, but with some headline changes that are sure to be welcomed by many. [...]

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