Pre-Budget Report 2009: PBR fails to tackle debt mountain
This year’s Pre-Budget Report has done little to tackle the UK’s spiralling public debt, while increasing tax complexity for higher earners, according to the UK200Group, an association of UK accountancy and legal firms.
The chancellor announced a series of measures to reduce the budget deficit, with a further rise in national insurance from 2011, additional restrictions on tax relief for the pension contributions of high earners and a temporary 50% tax on bankers’ bonuses.
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