George Osborne presented his first Budget on Tuesday 22 June 2010.
For the first time, forecasts were published in advance of the Budget. The Office for Budget
Responsibility was formed in May 2010 to make an independent assessment of the public
finances and the economy in advance of each Budget and Pre-Budget Report.
Within the framework of these forecasts George Osborne stated that a tough but fair
Budget was needed. Many fundamental announcements have been made which affect the
taxation of most individuals. These are in addition to changes already made by the previous
government, such as the 50% tax rate and changes to the tax relief available for pension
Our summary focuses on the issues likely to affect you, your family and your business. To
help you decipher what was said we have included our own comments.
For a full PDF version of the newsletter click here Budget June 2010 Newsletter