2011 review: policy

After 2010's three Budgets (if you count the final Pre-Budget Report) one General Election and three Finance Bills 2011 represented a return to normalcy in the fiscal calendar the first full calendar year for the Coalition government and an opportunity to demonstrate how it planned to deliver on its growth and competitiveness agenda. Tax policy developments in 2011 were set against a background of perilous economic conditions and the two fiscal set-pieces could be characterised by the Chancellor doing what he could with the cards he held. So how did he play his hand?

1. Delivering specific targets for ‘most competitive corporate tax regime’

Upon forming the...