Blog: The 'honest' Budget

PKF Littlejohn's Chris Riley considers some of the wider implications of this week's Budget and flags that Capital Gains Tax remains a target despite staying unchanged for now.

In recent years, the annual Budget has been defined by the phrases employed by the Chancellor in his speech. Twelve months ago, the phrase “we’re getting it done” was repeated throughout the speech in summarising specific measures that were proposed.  Just six days later, however, the beginning of the first lockdown meant in some areas of the economy we very much stopped getting anything done.

The effect of the pandemic on government finances has been, by any measure, astonishing. The 2020