Budget predictions: Health and welfare - a tricky Budget
Our experts predict a tricky Budget ahead for the Chancellor, as pressure mounts from a number of sectors. Here's what Rebecca Goldring and Helena Kanczula had to say.
A tricky Budget
Health and welfare
- This is a tricky budget for the Chancellor as he faces pressure to increase public sector pay and allocate resources to the NHS. Hammond will have to either raise the level of debt, which would not be a popular measure amongst conservatives, or raise/change taxes. For the latter, he could introduce changes in certain areas such as Inheritance Tax and restrictions of availability of Agricultural Property Relief or Business Property Relief, particularly for individuals who hold a portfolio of AIM listed shares. (Rebecca Goldring, manager)
- The NHS is approaching its 70th anniversary but faces significant challenges. A recent study by King’s Fund has identified that 66% of adults are willing to pay more tax to fund the NHS. The Chancellor should launch a full review into NHS inefficiencies and could look at whether the tax system could be used to provide the required funding in a way that would be acceptable to taxpayers. (Helena Kanczula, corporate tax director)
For more information please contact Rebecca Goldring
or Helena Kanczula