Tax body spots potential Chancellor material

20th Apr 2005

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The Chartered Institute of Taxation may have spotted a future Chancellor of the Exchequer.

Announcing the result of this year's Fantasy Budget competition, the tax body pointed out that it is only by chance that the winners have been named during a general election campaign.

"Like the British public, the judges of the competition had to assess various ideas on tax," it said.

CIOT president John Beattie said the quality of the entries was excellent. "I am sure that one of our winners has the potential to become Chancellor at some time in the future," he added.

A Level students were asked to produce an "innovative new tax", and the winners, Peter Symonds College in Winchester, suggested a hypothecated aviation tax.

GCSE pupils had to decide "what tax system the Chancellor should use". Students at Aylesford School and Language College in Warwick used a family case study to compare income tax and VAT.

Last year's awards were presented by paymaster general Dawn Primarolo, who took the opportunity to declare that "the tax system is vital to pay for our schools, hospitals and other public services".

This time, Beattie himself presented the awards. The competition, supported by the CIOT and BDO Stoy Hayward, is run by Bournemouth University.