Osborne’s Budget: Tax Credits

Osborne’s Budget: Tax Credits

In his Emergency Budget, Osborne unveiled his most controversial policy to date: Tax Credits. However, the question remains: will a cut in Tax Credits increase incentives for workers to gain further employment? 

Osborne’s Budget: The National Living Wage

Osborne’s Budget: The National Living Wage

Osborne’s Emergency Budget has called for the implementation of a National Living Wage. This would increase wages from the current rate of £6.50 an hour, up to £7.20 by April 2016, and then further increasing to £9 by 2020. Those on the Minimum Wage would stand to see their salaries increase by an estimated £4 000 p.a. Furthermore, 2.5 million employees are expected to see their salaries increase by £5 000 by 2020 as a result of this National Living Wage.

The Double Irish Dutch Sandwich

The Double Irish Dutch Sandwich

FaceBook paid just £4 327 in Corporation Tax last year, whilst Starbucks has only paid £8.56 bn in Corporation Tax since 1998, when it started trading in the UK. However, interestingly, their methods may have been perfectly legal. The mechanism: the 'Double Irish and Dutch Sandwich'.

Osborne's Budget: The Case for Lower Corporation Tax Rates

Osborne's Budget: The Case for Lower Corporation Tax Rates

Osborne’s proposal to cut the corporation tax from 20pc to 18pc by 2020 should help to encourage businesses to invest in Britain. The tax rate has seen a steady decrease from its level of 28pc in 2013.