Budget 2013: How did the industry respond?

clock

Chancellor George Osborne delivered his fourth Budget address this afternoon, cutting his official growth forecast in half, but insisting the UK would avoid a "triple dip" recession.

Osborne also confirmed plans to cut corporation tax to 20%, increase the personal tax free allowance to £10,000 in April 2014 and abolish the stamp duty reserve tax for UK-domiciled funds. The Chancellor told MPs this year's Budget is "for people who aspire to work hard and get on". Here, fund managers and economists digest the announcements and give us their verdict. Azad Zangana, European economist at Schroders: The Chancellor's fourth budget was fraught with conflict between trying to provide tax cuts to stimulate growth (and satisfy his party's backbenchers), but also to bri...

To continue reading this article...

Join Investment Week

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

Trustpilot