This year's budget comes on 17 March 2004 - next Wednesday. There has been much speculation regarding what items will receive most coverage from Mr Brown, but here are our thoughts.
Despite Budget day falling on St Patrick's day this year, we are sure Gordon Brown will manage a few tax rises on alcohol. More details should be released about the Child Trust Fund that is due to be introduced soon. Draft rules were released in February but there are still arguments ongoing in respect of who will be entitled to a contribution.
With effect from April 2006, Individual Savings Account limits are supposed to reduce from £7,000 to £5,000. The reduction will hit Cash ISAs and will mean that only £1,000 can be invested, rather than £3,000. We believe the existing limits might be given a reprieve, depending on Gordon Brown's need for the general public to save.
Finally, there has been talk that income and gains received by trusts will have their rate of tax hiked from 34% to 40% - thanks but no thanks!