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Tale of the detail

Budgets and pre-Budget reports are curious things and budget speeches even more so.

But we wish that there was more detail in the speeches and maybe less political flourishes. It would be nice to have a situation where the Chancellor would propose a tax change and consider the implications in his speech.

In that way, tax changes such as CGT and its implications for investing in bonds both onshore and off might be presented at the dispatch box along with a rationale for the change.

It would also be nice if future budgets would reward those that have sought advice and planned ahead, benefiting from the Chancellor’s largesse or at least his sympathy, as some Budgets did in the past.

Perhaps it was ever thus and we are harking back to a golden age that never existed. One thing is sure, issues of huge significance to advisers and their clients will play a very important role in deciding how people vote in the next election. For advisers and their clients, there may be more reason than usual to listen to what politicians are proposing.


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