Tax increases 'are inevitable'

09/03/2010 Tax increases 'are inevitable'

Additional tax increases will be needed to close the fiscal gap by 2013-14, it has been revealed.

PricewaterhouseCoppers (PwC) made the claim after its latest UK Economic Outlook report was released.

It suggests that without the higher levies some £20 billion of spending cuts will have to be made to offset the balance.

John Hawksworth, head of macroeconomics at PwC, noted that his company's projections are based on a cautious view of the growth potential in the UK.

"In practice, a spending squeeze towards the middle of the range might appear most plausible, supplemented by perhaps around £10 billion or so of additional tax increases," he added.

The signs for economic recovery are there, Mr Hawksworth stated, but no one should get carried away as it could just be the normal operation of the stock cycle.

It was recently announced that companies can expect to see an increase in the number of enquires from HM Revenue & Customs as the public deficit swells.

Search for tax jobs with Integral, the experts in tax recruitment.

ADNFCR-1739-ID-19658866-ADNFCR

News Home Email a friend Print Article

Related Jobs

Transfer Pricing Manager

Location: London

Salary: GBP55K - GBP75K

This busy TP group have now signed off the need for a manager to come on board and join a group that...
Transfer Pricing Director

Location: London

Salary: GBP90K - GBP150K bonus

Rare opportunity to join this leading TP Group at a senior level. This group want to speak with TP ...
Corporate Tax Manager

Location: London

Salary: GBP50K - GBP68K bonus

Brand new role, due to continued growth, to work in a small team of this leading organisation. They...