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Tax: Five year tax freeze

19 June 2015

Tax: Five year tax freeze

Most taxes will not increase this parliament

On 8 July, George Osborne will reveal the tax proposals in his post-election ‘Emergency Budget’. We know that there are to be no increases in VAT, income tax, or national insurance, as the Queen’s speech contained a provision stipulating that none of these is to be increased over the five-years of this parliament.

Surprisingly, the speech was silent about corporation tax. Given the previous announcements that this would fall to the current 20% from 1 April 2015 and no further, coupled with...

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