Confidence is in short supply and this Budget has not helped to improve the situation. With the enormous UK Government deficit continuing for years to come, our relative position with the rest of the world looks highly challenging.
Alistair Darling’s method of combating this problem seems to be by taxing the wealthiest. This will only lead to emigration of those that the country needs to retain, or evermore complex tax avoidance measures being created which will reduce the overall tax take. The only real effective way of reducing the Budget deficit is by reducing Government spending.
What is of even greater concern is that the Conservatives are not making clear that they will pursue a policy of low taxation which will inevitably lead to a continuation in lack of confidence in our potentially high earning business leaders. Our hopes did rest upon a change in Government next year which would implement business friendly policies.
Let us hope upon further consideration by George Osborne and David Cameron that they will tackle the Budget deficit and restore confidence in the UK economy.
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