“Budget reveals how out of touch the Government is” – Carmichael

Alistair Carmichael, MP for Orkney and Shetland, has criticised the Government for their out of touch budget that will hit self employed people with a tax rise.

Mr. Carmichael commented:

“Changes in National Insurance could see 2,600 people in the Northern Isles, and 4.8 million people across the country, paying more tax. This is the wrong message to send while many of these self-employed people are facing huge uncertainty about their future. The chancellor delivered a series of platitudes about understanding business but on this measure, and his continued insistence on digitising tax despite a one year delay, he showed himself to be out of touch with reality. 

“Every sector of the economy from Farming to Financial Services were watching the budget, hoping for some clarity as to what will happen next. They will have been sorely disappointed.

“While there was bad news for many companies, the Oil and Gas sector received a little bit of support. Changes to the flexibility of decommissioning tax relief will be welcome to the industry as it clears the way for transferring assets like oil rigs to companies that specialise in decommissioning without losing the tax allowance that goes along with this vital work. 

"There is still more however that I would like to see the Government have done. More incentives could have been offered to encourage exploration to find new oil and gas deposits in the North Sea, and the Government meeting their commitment to deliver loan guarantees to protect critical infrastructure in the North Sea would have been welcome, and many will be disappointed at the Government’s lack of ambition.”

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