Taking a look at taxation

The views and opinions expressed in this article are those of the author and do not necessarily reflect the official policy or position of the University of Birmingham

“I would be very surprised also if there are not one or two headline proposals to those on lower incomes given the very public position the Prime Minister is taking on developing society in ways all benefit from.”

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I think it is likely that the manifesto promise to increase both personal income tax allowances further (likely to £12,500 from £11,000 I suspect) and the higher rate tax threshold (up to £50,000 from £43,000 perhaps) will be delivered in this statement. While the new Government has an opportunity to change direction from the manifesto, I think this will be a promise they would still wish to fund to signal they plan to continue to honour those electoral promises.

I would not however be surprised if the big plans to lower Corporation tax to 15% that were announced by George Osborne are not tweaked – perhaps with a less ambitious target of perhaps 18% - still 2% below current rates.

I would be very surprised also if there are not one or two headline proposals to those on lower incomes given the very public position the Prime Minister is taking on developing society in ways all benefit from. With rising wealth inequality this rightly should remain a key issue for this Government, even with its attention somewhat deflected on Brexit. However, the Chancellor’s statements at the weekend suggest this will not be a generous giveaway.

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