Coalition one year on: Who benefitted from a year of tax measures?

clock • 2 min read

It will be a year tomorrow since a General Election which saw Labour win 29% of the vote yet led to the Conservatives forming a coalition government with the Liberal Democrats took place.

Since coming to power in May 2010, the coalition government has placed reforming the tax regime high on its agenda. In his emergency Budget of June 2010, Chancellor George Osborne unleashed a tough package of cuts and tax rises, saying "decisive" action was needed to tackle the nation's record debt. Capital gains tax jumped from 18% to 28% for higher rate taxpayers, and the Chancellor maintained the VAT rise to 20% from January 2011. However, in a sop to the business community, corporation tax was cut from 28% to 24% over the next four years, giving Britain the lowest rate of any m...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on UK

Budget 26: OBR slashes fiscal headroom to £15bn by 2029/30 after Middle East shock
UK

Budget 26: OBR slashes fiscal headroom to £15bn by 2029/30 after Middle East shock

Cut of more than £8bn

Michael Nelson
clock 28 October 2026 • 3 min read
Autumn Budget 2026: Reports suggest CGT/income tax equalisation off the table
UK

Autumn Budget 2026: Reports suggest CGT/income tax equalisation off the table

Keeping you updated in the run up to 28 October

Professional Adviser
clock 28 October 2026 • 1 min read
UK HNW individuals' confidence falls again – Saltus
UK

UK HNW individuals' confidence falls again – Saltus

Tax and pension concerns ‘shaping’ how HNW individuals think about financial futures

Jen Frost
clock 30 September 2026 • 3 min read