Budget Date Will Land Business With Extra Cost And Bureaucracy - Taylor

12.00.00am GMT Thu 6th Mar 2003

Matthew Taylor MP, Liberal Democrat Shadow Chancellor, commenting on the Chancellor's decision to hold the Budget on April 9th 2003, said:

"It's extremely difficult to understand why the Chancellor has landed business and Government with the complication and extra expense of calling the Budget just after the beginning of the tax year, rather than before it."

"This decision means extra bureaucracy and costs for business, as they recalculate tax codes and backdate Budget measures."

"Some taxes, such as income tax, are only given annual approval by Parliament. Special Parliamentary measures will have to be taken to allow tax collection to continue after the end of the tax year."

"This appears to be about the media management of the Budget in relation to a war in Iraq that hasn't been agreed or started. I have written to the Chancellor to demand a full explanation, and his assessment of the costs to Government and business that will arise from his decision."

ENDS

Notes to Editors.

The text of Matthew Taylor MP's letter is available from:

holbyi@parliament.uk