This is a Budget for the tabloids and not for the long term. Just how employers are meant to engage on providing benefits for employees when their own relief is being reduced is beyond me.
I suppose that the reduction of tax on bingo does shine a light on the Government’s love of transferring risk to the individual and this continues with the idea of Aim shares in Isas.
Aim is, to all intents and purposes, a “matched bargain”, it is not an openly traded market.
I speak from personal experience. I had some share options and the price went to £11 and back to £3 when the options matured. They went down as the lack of buyers became all too evident.
Aim is not an area for savings, it is an area for investment and there is a world of difference in these two elements of someone’s life. Savings are short term and Aim is too volatile for that but then it is a proposal that is not necessarily going to happen.
The Budget simply reflects a Government that has run out of ideas. This is confirmed as we find more issues commented on heading for consultation, that is, heading into the long grass.
We should not forget that this is being played out against a backdrop of a massive deficit. This Budget is bereft of ideas. Time for a change?