The coalition’s 2010 document on tax policymaking outlined a propose-consult-legislate process that aimed to make tax policymaking more transparent and predictable. Concepts introduced in the Budget are often subject to consultation over the summer, with details confirmed in the Autumn Statement and legislation incorporated into the following year’s finance bill.
But others would go further. The Institute for Economic Affairs, a free-market think-tank, said this week that this Budget should be the last in its current form. “The annual Budget has become a charade used by the government for political purposes,” it said, adding that all other changes to the tax system should be dealt with via separate legislation.
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