WITH less than a week until Chancellor of the Exchequer Jeremy Hunt delivers his first Budget to the House of Commons on March 15, speculation over what measures the UK Government will have in store to support households and the economy through the continuing cost-of-living crisis has been
intensifying.

Derek Hanlan, associate tax director at Glasgow-based accountancy firm Martin Aitken & Co, said clients have been anticipating the forthcoming
statement with trepidation, but hopes the Chancellor will provide
some “stability”. “Given the current financial climate, our clients are approaching this Budget with caution,” Mr Hanlan said: “With the pending April increase in corporation tax rates and reduction of the capital gains tax annual exemption, alongside the increase in Scottish income tax rates and additional rate threshold, there is some apprehension that entrepreneurs
and owner-managers could be targeted again with more tax hikes. “We are hopeful that the Chancellor opts for stability, with minimal tax impact.”

The contents of Mr Hunt’s statement will be examined closely by a panel of business experts at a Budget Briefing that will be hosted by The Herald at its office at 194 Bath Street, Glasgow, on the morning of March 16.

The briefing, which will be hosted by political commentator and columnist for The Herald Brian Taylor, will be held in association with Wright, Johnston & Mackenzie, The Business Insurance Bureau, The Wise Group and Martin Aitken & Co. Grant Johnston, partner and head of wealth planning at Wright, Johnston & Mackenzie, said: “There’s likely to be a lot of lively discussion. I think some of the key issues the Chancellor will have to address include the ongoing issues around labour and skill shortages, boosting the UK’s reputation as a  safe place for investment, and prioritising net-zero projects.”
Bob Hannah, supreme commander of The Business Insurance Bureau, said: “Given all the circumstances, the country still suffers from psychological long Covid and changing that means doing extraordinary things to get things going. Reducing the tax and regulatory frameworks, if appropriate, should definitely bepushed up the agenda.”

A limited number of tickets remain available and can be purchased at https:// newsquestscotlandevents.com/
events/budget-briefing-breakfast.