By Paul Davies and Michael Green

The Autumn Statement (the Statement) highlighted sustainability of public finance as key to securing a strong and stable economy for the UK. The need to prioritise longer-term sustainability schemes over short-term economic gain was also referred to by the Environmental Audit Committee (EAC) in a recent report.

The Statement, which is the last of its kind, does introduce a new fiscal framework designed to make public finances more sustainable, while providing the flexibility required to support the economy in the short-term.

By Karl Mah

This year’s Autumn Statement proved to be rather quiet on the corporate tax front, contrasting with the recent OECD/BEPS led activity in the international arena. Perhaps this was in part due to the relatively recent Summer Budget and the fact that the Chancellor had benefitted from an unexpected revenue windfall driven by higher than expected receipts and an improving UK economy. As is typical in the current climate, the announcements covered a number of targeted anti-avoidance measures