Please Mr Brown, Can We Have Some More? Budget Special
As Gordon Brown continues with plans for his 11th, and what seem certain to be his last budget as Chancellor of The Exchequer on 21st March (prior to his much rumoured move to Number 10 Downing Street), many people believe that it will be “business as usualâ€.Â
Throughout his tenure as head of the Treasury, Mr Brown has been renowned for his no nosense approach, tightening the fiscal belt where required, and investing in the country when possible. It appears that his last budget will set out his plans for the next 3 fiscal years, thereby effectively creating a “straight jacket†for the next Chancellor.
While expected to outline details of funding allocations across the government departments for the next 3 years, he is also expected to introduce yet more schemes to increase the tax windfall of the UK government. In direct contrast to his US counterparts, the Chancellor is expected to make a pitch to the offshore online gambling companies, offering them the chance to sign up for UK based licenses, in return for a reduced tax charge on overseas earnings.Â
In theory this could bring a vast proportion of the online gambling industry under UK regulations, at a time when US regulators are doing there best to cut off the life blood of online gambling companies trading to US customers. Quite how the Americans will respond to the rumoured stance remains to be seen, but Mr Brown may well have stolen a march on his rivals across the water.
In addition we can also expect the obligatory increase in the various tax allowances, in line with inflation, increased concentration on “green†issues as well as positive noises about the UK economy and government spending. It seems that Mr Brown will take the opportunity of his last budget to highlight his recent successes, and talk about his plans for the future.Â
Do not expect any big give aways!
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