Brown offers little hope

6 November 1998

Brown offers little hope

THERE was little to comfort farmers in Chancellor Gordon Browns pre-budget statement on Tuesday.

The extension of first-year allowances on plant and machinery and consideration of further tax cuts for small companies are in the consultancy stage, so are far from certain, said Carlton Collister of business advisers Grant Thornton.

Downgrading the governments forecast of tax generated suggests the Treasury is losing the battle on tax avoidance, he added. "They will seek to rectify this by introducing a general anti-avoidance catch all rule which will further complicate a companys tax affairs." &#42

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