Moral repugnance is all very well, but the UK has to earn its way in the real world, says James MacLachlan.
Budgets are usually multi-faceted affairs with no coherent theme and this one is no exception. Indeed the Budget reflecting as it does special tensions within the Coalition government is more political than most. Fortunately for business however corporate tax policy largely escaped the politicking so evident in relation to personal benefits and property taxation. The Budget did not deviate from the Corporate Tax Road Map laid out in November 2010 and the new more open process of consultation with business (notably in relation to CFC reform) seems to be working well. Thus there were few unwelcome surprises on...
