Autumn Statement prediction

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BUSINESS rates reliefs for smaller firms and devolution of tax powers are two predictions being made ahead of next month’s Autumn Statement.

Jane Mulholland, tax partner at BDO LLP, said: ‘Now that the political parties are gearing up for next year’s general election it is likely that the political decision making process will become bogged down.

‘The fear is that the forthcoming Autumn Statement will not escape this and as a result turn out to be a damp squib.

‘No doubt there will be some headlines for show, but the fact that the UK has a coalition government will mean that we will not see the usual tax giveaways that you would usually expect from a government at the end of its term. This particular sweetener will be highlighted in the party manifestos and campaigns but will have to wait until after the election.’