BU Research Blog

Dr Alan Kirkpatrick of the Accounting, Finance & Economics (AFE) Department in the Business School organized an event that took place on 13^th November 2024 to review, analyze and consider the implications for business of the very recent UK Autumn Budget.  This event was supported by the major professional services and accountancy firm Forvis Mazars (who also provided the refreshments), and was well attended, with around 60 participants coming to hear presentations by an array of experienced experts:

Richard Teather, an Associate Director in the National Tax Team of Forvis Mazars, responsible for analysing changes and new issues in tax, and advising on complex technical tax matters for clients.

James Wallis, a Chartered Accountant and former Vice-President and current board member of ICAEW Southern, and who runs two businesses: a consultancy servicing high growth companies, and a business specialising in raising debt finance for large scale real estate transactions.

Professor Jens Hölscher, an economist who has held several Visiting Professorships including at the Centre of Economic Research at the Deutsche Bundesbank, and former (for many years) Head of the AFE Department in the Business School

Dr Alan Kirkpatrick, a Chartered Accountant who teaches Business Taxation and accounting subjects in the AFE Department and currently leads a research team investigating the impact of carbon taxes and emissions pricing systems.

Dr Alan Kirkpatrick opened the discussion by providing an overview of the issues facing the Chancellor of the Exchequer, highlighting the critical balance between the public spending challenges and the available sources of tax revenues as well as other potential funding sources.  James Wallis then contributed further insights with a view from industry, by referring to early reactions to the Autumn Budget and potential risks going forward.  Richard Teather developed these themes and provided an analysis of some of the key business tax planning implications anticipated to arise from the recently announced measures.  Professor Jens Hölscher expanded the discussion by considering economic policy and political drivers in response to international developments.

The presentations clearly stimulated thinking and ideas among the members of the audience.  In the final ‘Q & A’ session there was an enthusiastic debate of the issues raised by participants including representatives from local businesses, accounting professionals including ICAEW members, financial services sector professionals, academics, and students.  By the close it was evident that a UK Autumn Budget that may be remembered as one of the most controversial in recent years, will continue to be discussed in future months and even beyond.