Emergency budget set for June 22nd

The Treasury has confirmed that the newly appointed Chancellor George Osborne will present his emergency Budget on Tuesday 22 June, less than six weeks away after the new government has taken power.

Although a number of the government’s flagship tax policies were revealed in the Coalition Agreement there are many difficult choices that have yet to be made, for example whether or not VAT will rise. Entrepreneurs will also be eagerly awaiting details of the proposed increases in capital gains tax and the proposed reliefs.

Chris Sanger, Ernst & Young’s head of tax policy says:

“To help navigate these unchartered political waters, business leaders will be hoping that the emergency Budget will give a clear sense of direction to UK tax policy, by providing a framework to give both certainty and clarity in the short term and beyond. We need a regime that allows businesses the flexibility to take commercial decisions, without being hampered by the tax system’s complexities, and which encourages globally mobile executives to invest and stay in the UK.

He makes the point that the government will need to play a careful balancing act between reducing the deficit and enhancing the UK’s competitiveness as a place to do business.

For up to date news on the emergency budget keep Money Matters bookmarked in your favourites and visit the FT’s indepth page on the coalition government.

The FT’s Money blog is a forum for the latest news and insights from the UK’s personal finance scene. Matthew Vincent, the editor of FT Money and his team of reporters will upload their views and insights on what’s happening in the industry and how this affects people’s finances.

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Lucy Warwick-Ching is the FT’s new Money Online Editor and has been a UK Companies reporter covering tobacco, pubs and leisure companies as well as the deputy editor on House and Home.

Matthew Vincent is the FT’s Personal Finance Editor and was previously the editor of Investors Chronicle, where he also devised the award-winning online video The Market Programme, and produced the BBC-FT standalone magazine ‘How to be Better Off’. He presents the weekly FT Money Show audio podcast, and previously worked on the BBC TV programmes Short Change and Pound for Pound.

Alice Ross is deputy personal finance editor of FT Money. She specialises in pensions, investments and investment trusts. Alice joined FT Money in April 2008 - prior to that she was deputy editor at Money Management magazine.

Ellen Kelleher has been a personal finance reporter in the UK for close to four years. Before arriving in London, she worked in the FT's New York bureau where she covered the insurance sector.

Steve Lodge is a personal finance reporter on FT Money specialising in savings.

Josephine Cumbo has written about all aspects of personal finance but currently specialises in insurance. She also covered company news for FT.com. Prior to working at the FT she was a news reporter for the ABC.

Tanya Powley is a personal finance reporter on FT Money specialising in mortgages and the housing market. Tanya joined FT Money in November 2009 after working in Australia covering personal finance for the Australian Financial Review and its sister magazine Asset. Prior to that, Tanya wrote about mortgages for UK trade newspaper Money Marketing.

Jonathan Eley is editor of Investors Chronicle, and has been with the title for ten years. Before that he worked for newswires and trade journals in London, New York and Hong Kong.