We have published two letters of correspondence on our website today.
John McDonnell MP wrote to us on 7 March asking for clarification on the methodology used for the CGT changes announced at Budget and for an explanation of the different numbers presented in the OBR’s Economic and fiscal outlook and the Treasury’s Red Book. Richard Hughes responded on 11 March and we have published his response below.
Sir Geoffrey Clifton-Brown MP wrote to us last year asking for clarification on the OBR’s examination of the costs and benefits resulting from the decision to end tax-free shopping schemes in 2020 and related questions. Richard Hughes initially responded on 22 December 2023 to commit to reviewing the original costing at Spring Budget 2024. In his letter published today, Richard sets out the conclusions of this review which can be found in detail in the annex to this letter and summarised in Box 3.3 of our March 2024 Economic and fiscal outlook.