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UK Politics

‘Abolish the Budget to stop Chancellors’ spin’, says think tank


The Budget should be abolished to stop Chancellors introducing headline-grabbing changes at the expense of good economics, a free market think tank has recommended.

The Institute of Economic Affairs said a short statement should be made outlining the changes to tax rates, allowances and borrowing required to meet public spending obligations.

New tax policy would have to be debated fully by both Houses and the relevant select committees in line with other legislation instead of being pushed through parliament in a “heavily whipped” Finance Act, the Institute believes.