MPs question practicality of Chancellor's 'second Budget'

The Chancellor's Autumn Statement has increasingly taken on the importance of a second Budget, creating uncertainty for businesses and additional costs for the taxpayer, a Treasury Select Committee report has said.

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Treasury report criticises Budget reforms and quantitative easing

The Government should do more to warn savers about the effects of 'loose' monetary policies, including quantitative easing (QE) and low interest rates, which have damaged pension savings; a Treasury Committee report on the Budget has found.

New tax allowances to boost Scottish energy investment

Oil and gas industries in the North Sea are set to benefit from increased investment after the Government unveiled plans to alter taxes affecting the sector in the Budget.

Concerns child benefit reforms will cause complications

Changes to the child benefit system announced in the Budget will cause a 'high degree of complexity' in take up and HMRC administration, says the Chartered Institute of Taxation (CIOT).

Confusion over Budget enterprise zones

Businesses based in enterprise zones in Scotland, North Wales, and England are set to benefit from enhanced capital allowances, after announcements made in the Budget, but there is confusion over whether Northern Ireland is to be granted its first enterprise zone.

Chancellor defends Budget

Chancellor George Osborne has been defending yesterday's Budget in a string of media interviews after accusations of hitting the elderly with reduced tax allowances and aiding the highest earners.

Budget makes £3 billion cut to pensioner tax breaks

The personal tax allowance for pensioners is to be frozen, and scrapped completely for those aged 65 years and over on or after 6 April 2013, in a Budget where the 50p tax rate and increase in personal tax threshold took centre stage.

Budget 2012: Potential tax reforms could aid SMEs

Small businesses may benefit from a simplified tax system in which full accounts may not have to be presented to HMRC, under plans announced by Chancellor George Osborne in the Budget.

Budget 2012: Business reaction

Business groups and commentators have given initial responses to the Budget announced this afternoon, which Chancellor George Osborne said would 'unashamedly back business', encourage investment and create more jobs.

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