
The Chancellor should be brave and reform the OBR
By Marcus Chen
City AM
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There have been relatively few Budget leaks ahead of next week s fiscal event but the little we have been able to discern, while still technically in the realms of speculation, has been depressing. The latest suggestion that people handing over the reins of a family business to the next generation could be hit with an almighty tax bill is so absurd that it surely cannot survive beyond the no idea s too crazy Treasury brainstorm. Meanwhile, interest groups left, right and centre have been making the case for or against various tweaks, levies and reforms. The principal business groups have coalesced around a please do no harm lobbying strategy, with some specific calls to lower the burden of costs and make it easier to hire young people. The City s campaign against a tax raid on the banks was valiant but the smart money s on them taking a beating. The politics of taxing the glass towers of Canary Wharf in order to give breathing space to the crumbling high street is just so