It really disincentivises success and that can never be a good thing. “But we are disappointed he chose to press ahead with the increase in corporation tax to 25 per cent – something which we believe will put the brakes on investment and slow down what little growth there is in the economy.
“The increase in pensions allowances and annual contributions is certainly welcome, and will avoid the tax trap which is forcing some to retire early rather than face big tax demands once they have left work. “The Government had already set out its intention to focus on stability above all else, so Mr Hunt was left with little room in which to manoeuvre.
“There were few major surprises in what the Chancellor had to announce today, with the extension to the domestic energy support scheme trailed well in advance,” said Steve.
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