The Budget 2013
Winner and Losers of 2013
Deloitte have produced the Budget 2013 Winners and Losers at a glance infographic to detail the principal parts of society who will gain and lose financially for the 2013 Budget. The budget announcement was made by George Osborne on Wednesday 20th March 2013 on behalf of the coalition government and included major changes to corporation tax rates and the personal income tax threshold.
Deloitte provides audit, tax, consulting and corporate finance services to selected clients worldwide. Deloitte’s coverage of the 2013 budget includes detailed analysis of the measures announced, as well as specialist commentary on the broader issues for business, individuals, employers and indirect tax.
Ian Stewart, Chief Economist at Deloitte commented on the budget:
“Mr Osborne’s statement that “monetary activism” is at the heart of his strategy signals that the Chancellor is looking to the Bank to play a bigger role in getting growth going.
“The halving of the official growth forecast for this year left the Chancellor with a tough hand to play in today’s Budget. The official forecast for growth in 2013, at 0.6%, is even more pessimistic than the average economist.
“But the Chancellor has deftly used his limited room for manoeuvre to boost the private sector – through a further cut in the main rate of Corporation Tax, a £3 billion boost to infrastructure, measures to help homebuyers and a new £10,000 personal allowance.
“Mr Osborne has resisted calls to ease the pace of public sector austerity and is sticking with his Plan A. The Chancellor’s strategy is to use supply side reform and easier monetary policy to kick start private sector growth.”