"Governments test language carefully before they act. When ministers refuse to repeat categorical assurances, it's deliberate,"
"This is choreography. The message, we believe, is pretty clear: tax rises are coming. Get ready."
"Debt servicing costs remain elevated, productivity has been downgraded, and growth is stagnant. Something has to give, and that something is tax policy."
An early-morning Downing Street address signalled that tax rises are coming and prepared taxpayers for forthcoming measures. Silence on specific tax pledges and the non-repetition of past categorical assurances indicate deliberate policy positioning rather than hesitation. The address emphasised that "pressures on the public finances" must be faced and that "the productivity performance we inherited is weaker than previously thought." UK government borrowing reached £20.2 billion in September, the highest for that month in five years, bringing first-half borrowing close to £100 billion, with an estimated £30 billion fiscal gap ahead of the November 26 Budget. Elevated debt servicing costs, downgraded productivity, and stagnant growth increase pressure on tax policy. Those with UK asset exposure should assume possible changes to capital gains tax, dividend allowances, inheritance thresholds, and pension reliefs and seek financial advice.
Read at London Business News | Londonlovesbusiness.com
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