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New online Budget portal is launched

 

A new online portal which allows people to submit their ideas for the 2011 Budget has been launched by the Chancellor George Osborne.

 

The facility enables anyone to send their suggestions directly to the desks of the Treasury officials currently working on the Budget, which has been set for 23 March.

 

‘I want to hear about your brightest and best ideas,’ said Osborne. ‘Because next month’s Budget will be all about growth. In particular I want to know what businesses, large and small, want from me.’

 

The announcement came as the Prime Minister David Cameron ruled out the possibility of tax cuts, claiming that such ‘relief’ would hinder the Coalition’s deficit reduction strategy.

 

‘I would love to see tax reductions. I'm a tax-cutting Tory and I believe in tax cuts,’ he said. ‘But when you're borrowing 11% of your GDP, it's not possible to make significant net tax cuts. It just isn't.’

 

Meanwhile, recent reports have suggested that the PM is considering levying a new tax on ‘non-doms’, possibly in time for the March Budget.

 

It is thought the move would help fund the Government’s plan to raise the income tax threshold to £10,000 by the end of the Parliament.

 

The online Budget portal and further guidance is available on the Treasury’s website.