ICAS CEO Anton Colella introduces the Budget 2012 series, where the crucial issues will be examined ahead of next Wednesday’s speech from UK Chancellor George Osborne.
With just a week to go until George Osborne reveals the
details of his keenly anticipated 2012 Budget, one thing is perfectly clear: the
stakes could not be higher.
The effects of eurozone crisis are being felt daily; the UK
is teetering on the brink of re-entering recession; and the need to promote
growth has never been greater.
In the last few weeks and months many different proposals
raised and then knocked down again, political arguments have grown ever more heated,
and the concerns of business have become clearer than ever before.
ICAS is a non-political organisation, and does not take
sides in political argument.
However, it is the duty of ICAS to act in the public
interest, and ask tough questions to ensure ideas are thoughtfully analysed,
their consequences examined fully and alternatives discussed.
Over the next few days ICAS will ask questions in a series
of opinion columns, blog-posts and video-blogs. We will analyse prospective
elements of the Budget, and raise issues that need to be discussed.
Our Director of Taxation, Derek Allen will outline the tax
initiatives to watch out for when the Chancellor gets up to speak next
James Barbour, ICAS Director of Technical Policy, will
analyse what business wants to hear, and doesn’t want to hear.
ICAS Assistant Director, Taxation, Elspeth Orcharton will consider
the merits of a General Anti-Avoidance Rule, and what form this might take.
Next Wednesday, we will live-blog the day’s events, and as
the dust settles on Budget 2012, we will continue to analyse what it means for
you, your business, the accounting profession, and the United Kingdom.