Bill Dodwell Comments On Today's Budget

Bill Dodwell, head of tax policy at Deloitte, said: "Chancellor George Osborne delivered the final Budget of this Parliament. The announcements were fiscally neutral but that masks significant tax increases on banks which finance reductions for individuals and the oil and gas sector.

"Banks face a 25% increase in Bank levy, expected to raise over £900 million annually. They will also no longer be able to deduct future costs of misselling compensation - costing over £200 million annually. Bank levy has been increased eight times since its introduction and is a charge on the size of the bank's balance sheet. Some 70% is paid by the handful of large UK-headquartered...