Lee Petar is the co-founder of Tetra Strategy, a
strategic communications and PR consultancy. He has 15 years of
political and media experience.
In a clever budget of unparalleled importance that will define
the trajectory of Britain's and the government's economic and
political future, Chancellor George Osborne provided a radical
Budget announcement that will fundamentally change the future
complexion of Britain's economy and society. By cutting
heavier and deeper than some have said is needed, he has defined
the means by which he and the coalition government will be
judged.
Lee Petar is the co-founder of Tetra Strategy, a strategic
communications and PR consultancy. Lee has 15 years of political
and media experience, including working on election campaigns and
being a founding member of the Britain Israel Communications
Centre.
In a clever budget of unparalleled importance that will define the
trajectory of Britain's and the government's economic and political
future, Chancellor George Osborne provided a radical Budget
announcement that will fundamentally change the future complexion
of Britain's economy and society. By cutting heavier and
deeper than some have said is needed, he has defined the means by
which he and the coalition government will be judged.
The headline announcement of a 1% annual drop in corporation tax
from 28% to 24% is welcome for the business community, who were,
beyond anything else, desperate for evidence of a clear plan. The
budget certainly gave that clarity. With no single interest group
emerging as a clear winner, instead it is merely degrees of who
stood to lose the most. The rise in VAT to 20% could prove to
be a burden on the retail and consumer based industries, though the
increase in entrepreneurs tax relief will please those who own and
are employed within their own businesses.
The Budget was evidence of George Osborne's tactical brain at work
- his coalition partners will be feeling outmanoeuvred, and
outflanked. The Chancellor's ability to divert his critics
was impressive and it is illustrative that the Labour party chose
to focus their attacks on what they described as the hypocrisy of
the increasingly troubled Lib Dems.
Ultimately, this was a bold, intelligent, and risky Budget, which,
if all goes to plan will place the Chancellor as one of the
greatest political operators ever to have occupied Number 11.
The reaction of the financial markets welcoming the statement
demonstrates the belief in his plan, and will have ensured that
that this Budget will creditably address Britain's sovereign debt.
For the Conservatives, this should be regarded as a triumph, with
Cameron and Osborne politically insulated by the Lib Dems.
The Lib Dems should feel sore, and labour will reserve their
ire until the effects begin to bite
Of course this is merely part one of a two-stage process that will
see departmental budgets slashed by up to 25%. Seasoned
political operators are reserving their full judgment until the
results of that spending review can also be viewed alongside this
budget.
The headline announcement of a 1% annual drop in corporation tax
from 28% to 24% is welcome for the business community, who were,
beyond anything else, desperate for evidence of a clear plan. The
budget certainly gave that clarity. With no single interest group
emerging as a clear winner, instead it is merely degrees of who
stood to lose the most. The rise in VAT to 20% could prove to
be a burden on the retail and consumer based industries, though the
increase in entrepreneurs tax relief will please those who own and
are employed within their own businesses.
The Budget was evidence of George Osborne's tactical brain at
work - his coalition partners will be feeling outmanoeuvred, and
outflanked. The Chancellor's ability to divert his critics
was impressive and it is illustrative that the Labour party chose
to focus their attacks on what they described as the hypocrisy of
the increasingly troubled Lib Dems.
Ultimately, this was a bold, intelligent, and risky Budget,
which, if all goes to plan will place the Chancellor as one of the
greatest political operators ever to have occupied Number 11.
The reaction of the financial markets welcoming the statement
demonstrates the belief in his plan, and will have ensured that
that this Budget will creditably address Britain's sovereign debt.
For the Conservatives, this should be regarded as a triumph, with
Cameron and Osborne politically insulated by the Lib Dems.
The Lib Dems should feel sore, and labour will reserve their
ire until the effects begin to bite
Of course this is merely part one of a two-stage process that
will see departmental budgets slashed by up to 25%. Seasoned
political operators are reserving their full judgment until the
results of that spending review can also be viewed alongside this
budget.