There is likely to be much written on the blogosphere and in newspapers over the next few days dissecting George Osborne’s 50 minute-long Autumn Statement. Rather than attempting to extensively cover it, I just seek here to tease out a few of my own notes about the Chancellor’s speech.
First and foremost, there were a couple decent cracks at Labour and Miliband, in particular the reference to the exploration of Mars wherein he compared Labour to the Red planet where there is yet to be any finding of intelligent life, or indeed life at all.
Secondly, and moving onto more substantial matters, the statement was kitted out with plenty of numbers (mostly forecasts). But in one area, they were conspicuously missing, namely, in relation to the endeavour to continue with moratoriums on tax credits/benefits. If this is so necessary, explain why George!
Third, this statement gives further credence to the idea that the Government does not take death taxes seriously, much like the Budget last year. Between tax free pension transfers and exemptions for those who die combating the Ebola virus in West Africa, death taxes have become a useful tool for Government to grab headlines, with very little lost to the Exchequer.
Finally, what an interesting idea that the Government will introduce a levy of 25% on those companies who artificially divert taxes away from the UK. If you would like more details, I cannot provide them, because George didn’t actually elaborate on this point. Watch this space!