2005 Chancellor's Budget Our View The 2005 Budget produced little to excite . As financial advisers, there were the general (inflation linked) increases to a number of tax allowances but the hard hitting stealth taxes that have been introduced over the last few years were not withdrawn.
The budget had one eye on courting voters and we believe most people are astute to have spotted this. Government borrowing is still high and taxes are increasing faster than inflation! What we got was some improvement in tax allowances, an extension of tax avoidance rules, some new deals for trusts and the classic "crass"