State has ‘dual economy’ between multinationals and domestic firms, budget office says

state has dual economy between multinationals and domestic firms budget office says

Sumary of State has ‘dual economy’ between multinationals and domestic firms, budget office says:

  • It also warns that it is “unclear” if the deficit path in the Government’s Summer Economic Statement meets European Union rules.
  • While it expects little change in tax policy in the upcoming Budget 2022, it says that medium-term spending increases to which the Government has committed suggest “a need to also increase tax revenue by broadening the tax base, reducing tax reliefs and/or increasing rates, while at the same time reducing the reliance on multinational companies”.

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