It’s a Budget – but not as we know it.

Budget day used to be (quite) exciting – working out how much better/worse off we were going to be in a few weeks’ time. We can now work out how much better/worse off we will be in 2014/15 – that’s no fun.
When Chancellors find it impossible to forecast income and growth for the following year, why do they choose to set tax rates two years ahead?
We now have trouble trying to remember if the £10000 personal allowance is for next year or the year after. Next year all employers will save £2000 in National Insurance costs – but that’s not really next year, it’s the next year – until after 5th April 2013 when it will be next year. Clear enough isn’t it?