Our experts give their predictions for what the Chancellor might do and suggestions for what he should and shouldn’t do during the Budget announcement on 11 March.
For more information about our coverage on the day and the publications we produce, visit our Budget 2020 topic page.
Environmentally friendly tax reforms
Robert Pullen, partner at Blick Rothenberg said: “I would be surprised if more environmentally friendly tax reforms were not included – such as on how farmland is used, property development, or sector-targeted reliefs or changes. Tax is always a behaviour lever and the challenges faced from the environment are arguably the most in-need of attention. This may not be a focus however, given Brexit and the need to stimulate the economy.”
For more information, please get in touch with Robert Pullen.
Flood defence funding and investment in the green energy market
David Hough, partner at Blick Rothenberg said: “The recent Conservative manifesto promised £4bn in new flood defence funding over the coming years. The Environment Agency says more resources are required – with more than 200 flood warnings in place following recent storms I expect funding in this area to come into focus in the run up to Rishi Sunak’s first Budget.”
He added: “The UK electricity network is interconnected with neighbouring European countries. The Chancellor may look to decrease reliance on EU supply, and achieving zero carbon targets, by investing further in the UK’s green energy technology market.”
David said: “To encourage investment and reassure UK businesses during the transition period the Chancellor should further incentivise research and development in key markets to achieving long term goals, such as zero net carbon targets including electric car manufacturing and carbon capture.”
For more information, please get in touch with David Hough.
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