Spring Budget 2021: Industry reacts to Sunak's 'fiscal ice age'

Personal tax thresholds and LTA frozen

Pedro Gonçalves
clock • 10 min read

Chancellor Rishi Sunak's Spring Budget has left analysts torn between "stealth" tax hikes and the Treasury's broader plan to stabilise the public finances.

Edward Park, chief investment officer at Brooks Macdonald, said the Chancellor was caught between a rock and a hard place since "meaningful tax rises to repair the fiscal damage wrought by Covid would have risked destabilising the UK's nascent economy recovery.  "To raise taxes meaningfully now would have meant that the UK was the global trailblazer for fiscal tightening and that would have done little to boost the UK's growth prospects". Park added: "Chancellor Sunak tried hard on Wednesday to make the best of a rather messy set of cards that he has been dealt by the Covid pandemic a...

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