2012 budget designed to support economic growth

Government introduces tax system reforms to support economic growth

New taxation plans aim to create a more sustainable economy

This week’s budget forms part of the coalition Government’s strategy to address the economic challenges facing the UK, restore stability and support growth. A planned net tax increase of £29 billion is planned to help consolidate £155 billion per year by 2016. Another aim of the reforms is to create a simpler and more sustainable tax system.

New taxation plans include: