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Friday, March 14, 2008

Lincolnshire Echo: Tax

Tax increases in the Budget were aimed at the traditional targets - smokers, drinkers and motorists.

There were of course tax hikes elsewhere, but Mr Darling was never likely to raise income tax levels with the economy showing signs of faltering.

There were also areas were taxes were slashed.

Corporation tax will drop from 38 per cent to 28 per cent, and simpler taxes were promised for small companies.

Lower taxes for low-polluting cars were also announced.

But, as usual at Budget time, every tax hike upsets somebody.

Matthew Elliott, chief executive of the TaxPayers' Alliance, said: "The Chancellor talks the talk about families facing tough economic times, but this Budget doesn't actually do anything to help ordinary taxpayers struggling to pay rising household bills and record levels of taxation. "

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