| Synopsis: |
This report by the National Audit Office, made under sections 156 and 157 of the Finance Act 1998, examines the conventions and assumptions underlying the Treasury's fiscal projections within the 2004 Budget (HCP 301, session 2003-04; ISBN 0102927626). Issues discussed are: the increased tax yield from a new compliance package for direct tax and National Insurance contributions, the "VAT gap" assumption, factor income shares and debt interest. |