It's an election year and the Federation of Small Business (FSB) has said it is not expecting any tax breaks for small businesses. "There is a perception that there are more votes elsewhere," said FSB policy chairman John Walker.
Meanwhile Eric Galbraith at Biba told Insurance Times: "We don't expect any major tax hikes affecting insurance this close to an election, but we'll be looking closely at IPT."
In a speech today Michael Howard said: "This will be pre-election budget, but we've been here before. It may look rosy tomorrow, but expect another year of stealth taxes if Labour is elected again.
Insurance Times and specialist financial advisers Mazars have teamed up to offer readers in-depth analysis of what budget 2005 means for the industry.
Expect a post-budget alert outlining the immediate impact tomorrow and an in-depth report on Thursday.
