Chancellor'll be a fine thing

The new Chancellor George Osborne said his first budget was both ‘unavoidable' and an ‘emergency' and yet many of his policies had the look of being well thought out and planned.

The changes to CGT will mean a modest amount for the average private investor who currently does not make full use of their annual allowance, and the increasing to relief for entrepreneurs from two million to five million, while raising the rate to 28% seems a fair and reasonable compromise. It is always going to be a near-impossible balancing act to make the taxation of both income and capital gains equitable, particularly given the need to encourage new employment and raise income. The full spending review in October will be the point at which the true emergency nature of the nation...