Budget 2009: Lay off the tax hikes, says ACCA

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This year's Budget should avoid tax hikes in order to allow the fiscal stimulus package to take hold, according to the Association of Chartered Certified Accountants.

Chas Roy-Chowdhury, head of taxation at ACCA said the government should not announce any tax increases as it may cause business and individuals to hold back on spending.

In particular, the organisation called for income tax, national insurance and corporation tax to remain as they are in order to create a period of stability.

It also argued that the temporary VAT cut has had little impact and should be restored.

The Budgets focus should be on how to manage global financial turmoil without increasing taxes that could further burden already hard-pressed individuals and small businesses, said Chowdhury.

He also called for tr...

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