23 MARCH 1985, page 6

The City

Lost budget Christopher Fildes Mr) one can have been more dis- appointed 14 by this year's Bud g et than its author. Upon Ni g el Lawson has fallen the Bane of the Second Bud g......

The Liked Lump N O Green Paper, No Reform, So The

pension funds seem to have escaped, lump sums and all. The Chancellor called those lumps and their tax treatment 'ano- malous but much-loved', and you can see why they are both.......

Hopes Discarded Rr His, Then, Is The Year Of Hopes

deferred, 1 and — what seems odder — of hopes discarded, of options disclaimed. So the Chancellor, puttin g Value Added Tax onto newspaper advertisin g , undertook that VAT......

Negative Income Tax W Here Hopes Survive, A Green Paper Must

now proclaim and precede them. So it was (the Chancellor told us) with company tax, and so it will be with personal tax. Well, so it was and it wasn't: the Green Paper on......

Cheltenham Winner W Elcome, At Least, For Two Reforms...

Lawson has been free to make. He has abandoned that insult to the market's intelli g ence, the cut in bank base rates stage-mana g ed for Budget morning. (They did the decent......