4.8 • 36 Ratings
🗓️ 21 March 2017
⏱️ 7 minutes
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0:00.0 | Welcome to the latest in our series of Beyond Brexit Podcasts. |
0:07.0 | Today we are discussing tax policy in light of the Chancellor's recent budget and the imminent triggering of Article 50. |
0:14.0 | I'm Gainer Bagley, PWC's Head of Corporate Purpose and I also chair our EU Steering Committee. |
0:20.0 | And I'm joined by Stella Amis, |
0:21.6 | PWC UK's Tax Leader for Policy, Reputation and Regulation. |
0:25.6 | So Stella, how did the Chancellor lay the groundwork for Brexit in the recent budget |
0:30.6 | and what are the key takeaways for business? |
0:32.6 | Thank you Gaynor. |
0:33.6 | I say that this budget was actually one where the ambition of the Chancellor was to try and keep |
0:38.3 | everything stable and to try and demonstrate that it was a good open environment for UK and for |
0:43.3 | UK business. There were no major changes, especially in the corporate tax kind of world, again, |
0:48.3 | a key indicator for business that stability was the key. There were, indicators of where things might change in the future. |
0:55.0 | Now, clearly the Chancellor tried to make a change when it came to the national insurance regime, |
1:00.0 | and whilst that's been unwound, it's still an area that is ripe for reform, and no doubt we'll see changes coming in the future. |
1:06.0 | I would say that the Chancellor, this time round, deliberately kept his cards close to his chest, |
1:11.4 | just to wait and see how the landscape changes post the triggering of Article 50. |
1:16.3 | So there was a hint that he might be taking a much more reformist, bold measure that he somehow then stepped back from. |
1:25.0 | Would there be another opportunity, say, for example, as part of of the industrial policy to kind of continue to innovate and transform the tax system? |
1:32.3 | I mean, absolutely. First of all, let's not forget that this is just the first budget |
1:36.0 | of two that we'll get this year. So there is another budget coming in the autumn and that's |
1:40.5 | possibly why the Chancellor kind of reigned back quite a lot on what he was going to do this time round. |
1:45.0 | And in all in respects, that's actually very sensible. |
... |
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