KPMG have issued another of their notorious press releases (noted far and wide for missing the mark). This time they have surveyed finance directors following the budget.
The survey was rather small. They also imply private equity represents the FTSE, which is quite strange. But perhaps the most telling finding was this:
Over a quarter (28%) believe Budget too complicated to work out total impact of tax measures on their effective tax rate
What does that mean? They're not up to their jobs? Or they need KPMG to help them? Or that tax is simply too hard for mere mortals (which I can tell you, is not true?)
Read the rest of this clearly biased report here.
PS I take my hat off to the none person who persistently praised the budget. Was he cantankerous, looking for a peerage or just able to stand out from the crowd? I suspect the latter in which case he or she is, I hope, going places. The rest show a remarkable lack of original thinking.