Skip to main content

Brexit 'will trigger emergency Budget' to tackle £30bn black hole, warns Chancellor

15 Jun 2016

As the EU referendum draws closer, Chancellor George Osborne has warned that the UK will face an emergency Budget to tackle a £30bn black hole in the public finances, in the event of a vote to leave European Union.

The Chancellor said that measures to address the deficit could include raising income tax and inheritance tax, as well as cutting NHS funding.

Under the measures outlined by the Chancellor, the basic rate of income tax could stand to rise by 2p, with higher rate taxpayers seeing a 3p increase. In addition, the UK could see cuts of 5% to police spending, transport and local government, as well as cuts to education and defence.

However, members of the Leave campaign have dismissed the claims, with some Conservative MPs warning that the Chancellor’s position ‘would become untenable’ if he were to proceed with the proposals.

The EU referendum will take place on 23 June.

100% Client Satisfaction Guarantee

At Arlington we love what we do. As proof of this, our staff will do everything to ensure that you receive the best, most reliable and professional service on the market.

LEARN MORE

Happy Clients

  • "Arlington offer sound business advice and have helped us to increase our turnover this year, whilst reducing our tax bill."
    Mr J McGillivray JM Yachting Limited.
  • "A big thank you to David and the rest of the team at Arlington. Always friendly and reliable. My accounts are dealt with quickly and efficiently and most importantly accurately. Something that wasn't happening when I was tying to produce them myself."
    Mr A Gilchrist Warrior Contracting Limited
  • "With our company growing, we are always getting into various situations where Arlington Accountants are always happy to offer us advice and guide our business to ensure more profits and lower tax payable".
    A. Elber - Director - Circuit Clubbing
  • "Its important to us to have the same people dealing with our affairs from one year to the next. Arlington Accountants take a very personal approach and offer great money saving advice."
    J Sheen - Director - Hambrook Holiday Park Limited
  • "Give Arlington a call now, you will not be wasting your time. They will improve your tax affairs and help you to change your mindset and lifestyle sooner than you think is possible".
    A. Elber - Director - Circuit Clubbing

View our client testimonials