Osborne and Labour former chancellor Alistair Darling are to warn that the Treasury would be forced to unveil an emergency Budget, consisting of:
- £15bn of tax rises
- £15bn of spending cuts in the case of a vote for Brexit
Osborne is expected to outline tax rises comprising of;
- 2% increase in the basic rate of income tax
- Three pence rise to the higher rate
- Five pence rise to the inheritance tax rate
Osborne and Darling state the statistics are based on the Institute for Fiscal Studies’ forecast about the economic impact of a vote to leave from lower trade, investment and tax receipts.
Review Tax Implications with Salhan Accountants
