Spending Review offers few surprises | AccountingWEB

Spending Review offers few surprises

Chancellor Osborne announced £11.5bn of budget cuts in today’s 2013 Spending Review, with few surprises about where the money will be cut.

HMRC was one of several government departments to face cuts, but got away relatively lightly, with a 5% budget cut for 2015-16.

The department is still expected to deliver more than £130m of efficiency savings in 2015-16 through improved productivity and “further digital transformation”.

In spite of the cuts, Osborne said he expected the department to...


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Public spin

mikewhit | | Permalink

Osborne should have funnelled windfalls from bank fines etc into the HMRC and regulators' warchest (as happens in US) rather than spinning it as going to wounded service people.

They should be funded properly from MoD.

Disappointing for UK taxpayers

Adam Harper AAT | | Permalink

In the Autumn Statement it was thought that HMRC would be exempt from spending cuts so the outcome from the spending review certainly sends mixed messages with many believing that HMRC is fighting a war on tax avoidance that it can’t currently win without changes to legislation.  

 It is difficult to understand how HMRC will be able to deliver much needed improvements in the administration of tax with fewer resources at its disposal. This news will be disappointing for taxpayers as they will undoubtedly question the serious implications this will have.