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Stories that are tagged 'budget'

Eurogroup Committed To Fiscal Consolidation
5/16/2012
Following the latest Eurogroup meeting in Brussels, Luxembourg’s Prime Minister and Eurogroup President Jean-Claude Juncker confirmed that the Eurogroup’s consolidation strategy, in accordance with provisions contained in the Stability and Growth Pact, ‘remains appropriate’ and will therefore continue to form the cornerstone of its strategy to correct fiscal and economic imbalances to overcome the crisis and to return to sustainable growth.
Hollande Eyes 'Growth Dimension' In Fiscal Compact
5/16/2012
During their first meeting in Berlin, German Chancellor Angela Merkel and French Socialist President-elect François Hollande underscored the importance of Germany and France continuing to work closely together in the interests of Europe, and their responsibility and commitment to collaborating on ideas aimed at stimulating growth in Europe ahead of the European Council meeting in June.
St Lucia Eyes Income Tax Cuts, After VAT Implementation
5/16/2012
The government of Saint Lucia has outlined new tax measures in its latest Budget to shift the tax burden from direct to indirect taxes.
Austria's 'Historic' Stability Pact Signed
5/14/2012
The Austrian finance ministry has announced the recent signing in Vienna of the agreement on the Austrian Stability Pact 2012 between the Austrian federal government, states and municipal authorities.
Luxembourg May Extend Budget Measures
5/10/2012
During a recent address on the state of the nation, Luxembourg’s Prime Minister Jean-Claude Juncker presented the government’s declaration on the current economic, social, and financial situation in Luxembourg, indicating crucially that the fiscal initiatives taken on April 27 to consolidate the public finances will have to be extended beyond 2014.
Hungary To Abolish Bank Tax
5/11/2012
The Hungarian government has announced plans to halve the country’s bank tax in 2013, before subsequently abolishing the levy in 2014.
Spain 'Confident' 2012 Budget Plans Will Spark Growth
5/10/2012
Spain’s Secretary of State responsible for Budget and Expenditure Marta Fernandez Curraz has recently defended the country’s budgets for 2012, insisting that they are based on discipline and fiscal consolidation, to enable the government to confidently overcome the crisis.
Ireland Publishes ESM Bill
5/9/2012
Ireland's Minister for Finance Michael Noonan has published the European Stability Mechanism Bill 2012 as part of the government's commitment to ensure that the Irish people are fully informed in casting their votes on the Stability Treaty.
Australian Budget Scraps Planned Business Tax Cuts
5/10/2012
A planned cut to business tax rates will not go ahead in Australia, as the government seeks to redirect projected mining tax revenue to help families and small businesses in the face of ongoing disputes with opposition parties.
Juncker Insists Fiscal Compact Not Up For Renegotiation
5/9/2012
Luxembourg’s Prime Minister and Eurogroup President Jean-Claude Juncker has firmly ruled out the idea of completely renegotiating the fiscal compact, agreed by twenty-five of the twenty-seven European Union member states back in March, and aimed at strengthening budgetary discipline, following the election of François Hollande as the new French President.
UK Peers Warn Over Transaction Tax Implications
5/9/2012
The UK’s House of Lords has once again attacked plans by the European Commission for a Europe-wide financial transaction tax, warning that if introduced, the UK could account for 71% of the revenue it would raise.
Liechtenstein Eyes Tax On Swiss Cross-Border Workers
5/7/2012
During a recent sitting, the Liechtenstein government adopted a report pertaining to a second package of expenditure- and revenue-based measures, designed to consolidate the state finances in line with the country’s 2012-2015 financial plan.
Morocco Launches 'Citizen's Budget'
5/3/2012
Determined to improve fiscal transparency, a priority of Morocco’s new government, the Moroccan economy and finance ministry has recently launched the ‘Citizen’s Budget’, and has published in Arabic a Moroccan citizen’s guide to the country’s 2012 finance law.
Spanish U-Turn Sees VAT Rise In 2013
5/4/2012
Marking a dramatic about-turn, the Spanish government has confirmed plans to introduce a ‘notable’ rise in value-added tax and to increase special taxes imposed on alcohol and tobacco next year.
Luxembourg Outlines Fiscal Consolidation Plans
5/2/2012
Luxembourg’s Finance Minister Luc Frieden has recently presented the country’s stability and growth programme for 2012-2015, which includes fiscal consolidation measures approved by government on April 27.
Italy Hopes To Avoid Future VAT Increase
5/3/2012
In recognition of the need to reduce public expenditure as much as possible so as to contain taxpayer burdens, the Italian government has announced the framework of a spending review to be undertaken in the next month.
Dutch PM Confirms Bank Tax Rise
5/2/2012
The caretaker Prime Minister of the Netherlands Mark Rutte has confirmed that the country's proposed bank tax will be increased as part of the government's latest budget agreement, designed to reduce the deficit to 3% of gross domestic product next year.
New Zealand Determined To Return To Surplus
5/1/2012
New Zealand's 2012 Budget will aim at ensuring the government remains on track towards securing a budget surplus in 2014/15, a challenge which will require tight control over spending for the foreseeable future, the Finance Minister Bill English has said.
Canada Legislates For Measures To Boost Business
4/30/2012
Canadian Finance Minister Jim Flaherty has introduced legislation to implement key elements of his 2012 Budget designed to improve conditions for business investment.
Dutch Lawmakers Unite On Austerity Budget
5/1/2012
Despite the recent collapse of Mark Rutte's minority coalition government and ensuing panic on the already anxious markets, the Dutch parliament has finally adopted the country’s budget package, designed to reduce the budget deficit to 3% of gross domestic product in 2013, and providing for savings of around EUR12bn (USD15.9bn) next year.
Ireland Completes Latest Bailout Review
5/1/2012
Ireland has achieved all the targets set under its bailout agreement, the European Commission, European Central Bank and International Monetary Fund have said in their latest quarterly review, news welcomed by the Irish government.
Di Pietro Calls For Tax Treaty With Switzerland
5/1/2012
Antonio di Pietro, the former anti-corruption magistrate and present leader of the Italia dei Valori opposition party, has written in his blog that the Italian government should now be looking to garner the EUR40bn (USD53bn) in tax revenue that could be available by concluding a tax treaty with Switzerland.
Ireland Details Planned Stability Treaty Legislation
4/30/2012
Ireland's Finance Minister Michael Noonan has outlined plans for future legislation that would implement key provisions of the European Stability Treaty, were the Irish people to vote in favour of adopting it at a forthcoming referendum.
Geithner Finds Progress In US-China Trade Relations
4/30/2012
In remarks made to the Commonwealth Club of California in San Francisco, Timothy Geithner, the US Treasury Secretary, reviewed the development of the trading and economic relationship between the United States and China, and pronounced that significant progress has been made.
Hollande Eyes Growth-Orientated Fiscal Compact
4/26/2012
With just days to go before the second round of presidential elections, French Socialist candidate François Hollande, currently ahead of his rival Nicolas Sarkozy in the opinion polls, recently welcomed remarks made by President of the European Central Bank Mario Draghi on the need to conclude a eurozone pact on growth, to complement the fiscal compact aimed at strengthening budgetary discipline among member states.
Dutch Opposition Shuns Austerity Path
4/27/2012
During an emergency debate in parliament, following the shock resignation of Mark Rutte’s minority coalition, leader of the Dutch Social Democrat opposition party Diederik Samson underlined the need to move away from the controversial austerity course.
Austria's Tax Revenues Rise
4/26/2012
The Austrian finance ministry has recently published details of its tax revenue figures for the first quarter of the year, showing total income from January to March 2012 of around EUR16.2bn (USD21.4bn), up by approximately EUR600m or 3.8% from the first quarter of 2011.
New Taxes In Hungary's Euro Plan
4/26/2012
The Hungarian government has recently adopted the second part of its ‘Szell Kalman’ plan, forming part of the country’s euro convergence programme and containing new tax measures to help shore up its revenue base.
Italian Government Urged To Reduce Tax Burden
4/25/2012
While the Italian government has stressed that there will be no need for new taxes in a further budget this year, the Court of Auditors and the Bank of Italy, in their testimony to the Chamber of Deputies on the recently-issued 2012 Economic and Financial Document, have emphasized, instead, that tax burdens have to be reduced as soon as possible.
Italy Has No Plans For Wealth Tax
4/25/2012
In his testimony to the Italian Chamber of Deputies’ economic and finance committee, the Deputy Economy Minister Vittorio Grilli confirmed that the government has no plans to introduce a wealth tax, or any other new taxation, in a further budget.
Spain Defends 2012 Austerity Measures
4/23/2012
During a recent address to congress to present and explain the government’s 2012 budget, Spain’s Secretary of State for Finance Miguel Ferre underscored that the tax measures provided for in the budget plans will enable the country to achieve its fiscal consolidation targets.
Dutch PM Seeks Opposition Agreement On Budget Cuts
4/24/2012
Determined to retain the country’s much-coveted triple A rating, Dutch Prime Minister Mark Rutte is now seeking to swiftly conclude a budget deal with the opposition, following the recent collapse of talks with right-wing ally the Freedom Party.
Canadian Province To Introduce HST
4/23/2012
The Canadian province of Prince Edward Island will move to a harmonized sales tax system from April next year, with the government expected to table a package of legislative reforms later this year.
France Keeps Fiscal Programme On Track
4/20/2012
French Finance Minister François Baroin and Budget Minister Valérie Pécresse have recently reaffirmed the government’s growth forecast for 2012 and 2013, and confirmed the planned path to return the country’s public finances to balance, as laid out in the 2011-2016 stability programme, achieved notably by means of targeted expenditure- and revenue-based measures.
Austria's Fiscal Policy Backed By Fitch
4/19/2012
Austria’s Finance Minister Maria Fekter has recently welcomed the triple A rating accorded to Austria by ratings agency Fitch, which endorsed the government's 2012 budget consolidation package.
Italian Tax Burdens Rise As Economy Stalls
4/20/2012
In its 2012 Economic and Financial Document, the Italian government has reduced its economic growth forecasts for this year, admitted it will not be able to eliminate completely its fiscal deficit next year, and released figures showing further increases to the already-onerous burden on Italian taxpayers.
Cyprus Committed To Deficit Reduction Targets
4/18/2012
Cyprus's Finance Minister Vassos Shiarly has expressed confidence that the nation will be able to meet the deficit reduction targets agreed with Europe and its Russian creditors.
Tunisia Consults On Complementary Finance Bill
4/17/2012
The Tunisian committee responsible for planning, finance and development within the National Assembly have recently examined the country’s 2012 complementary finance bill, including the key fiscal measures contained in the draft law.
Austria, Switzerland Unite 'In Principle' On Tax Deal
4/16/2012
Austria’s Finance Minister Maria Fekter has announced that an agreement in principle has now been reached on the tax treaty between Austria and Switzerland.
Antigua And Barbuda's Finances Back On Even Keel
4/13/2012
The International Monetary Fund has recently conducted three reviews of Antigua and Barbuda's performance under a financial assistance package negotiated in June 2010.
TIGA Considers Format Of UK Games Tax Relief
4/13/2012
TIGA, the trade association representing the UK games industry, has urged input from design studios on the functioning of a tax credit, promised by the UK government in its latest budget after years of industry lobbying for fiscal support.
No Quick Fiscal Fix For Heavily-Indebted Nations
4/12/2012
The Organisation for Economic Cooperation and Development has published a new study, warning of the extraordinary measures that are required to achieve fiscal consolidation in many advanced nations, now also facing expenditure pressures from ageing populations.
Sarkozy Outlines Ambitious Campaign Tax Plans
4/13/2012
France’s outgoing President Nicolas Sarkozy has recently unveiled details of his election proposals aimed at creating ‘a strong France’, and containing a raft of tax measures, intended to attract voters.
Osborne 'Shocked' By UK Tax Dodging
4/13/2012
George Osborne has admitted to being 'shocked' by high levels of tax avoidance amongst the UK's wealthiest people, hinting at his support for a so-called 'tycoon tax'.
Czech Cabinet Unites On Austerity Package
4/13/2012
Following months of internal conflict, the Czech cabinet has finally adopted the comprehensive savings programme agreed by the coalition parties, containing a raft of savings measures and planned tax rises aimed at consolidating the country’s finances.
French Farmers Reap Benefits Of Fuel Tax Perk
4/11/2012
The French budget ministry has recently announced that requests for the partial reimbursement of the taxes levied on fuel oil, off-road diesel and natural gas for 2011, applicable to those engaged in agricultural activities, are to be submitted by April 15, 2012.
France's Hollande Unveils 'Vast' Tax Reform Plans
4/11/2012
Bernard Cazeneuve, spokesman for the French Socialist presidential candidate François Hollande, has recently unveiled details of Hollande’s tax reform plans, designed to simplify and to make more transparent the current tax system, and to create greater fiscal justice in France, reflecting true Republican values.
UK Taxpayers Educated On Working Tax Credit Changes
4/9/2012
The Low Incomes Tax Reform Group in the United Kingdom has warned a number of groups of tax credit claimants that they need to contact the UK tax authority, HM Revenue and Customs, if they want to continue to receive working tax credits, following the enactment of Budget provisions.
Philippines Sees Tax Revenues Surge Early In 2012
4/9/2012
Despite rising government spending, the Philippines saw a much reduced PHP5bn budgetary deficit in the first two months of 2012, with the Bureau of Internal Revenue achieving a significant rise in revenues.
New Zealand Doing Well, IMF Says
4/9/2012
The International Monetary Fund has praised New Zealand's deficit reduction plan and called the government's macroeconomic stance appropriate in its latest review.
Canada Promotes Budget's Trade Benefits
4/6/2012
Canada's 2012 Budget will help expand trade and open new markets for businesses, the Minister in charge has said.
EUR800bn 'Firewall' Set In Place For Euro Zone
4/5/2012
During the recent meeting of European finance ministers in Copenhagen, euro zone finance ministers agreed to a total capacity of around EUR800bn (USD1tn) for the euro rescue mechanism, according to the German finance ministry.
Ireland Faces Fiscal Dilemma
4/5/2012
Irish policy makers face a clear dilemma in choosing an appropriate medium-term fiscal stance, the country's budget watchdog has said, warning that additional austerity measures may be necessary to meet targets.
Ontario's Finance Minister Unveils 2012 Budget
4/3/2012
Ontario will not lower its corporate tax rate until the budget is balanced, the province's Finance Minister has said.
Austria On Track For Zero Deficit
4/3/2012
Austria recorded a significantly lower budget deficit for 2011 than previously forecast, well below the 3% Maastricht threshold, due to substantially higher tax revenues, according to the Austrian finance ministry.
St Lucia Confirms Upcoming VAT Regime
4/3/2012
The government of the Caribbean territory of Saint Lucia has confirmed that a value-added tax regime will be introduced from September 1, 2012.
Spain Unveils Tough Austerity Budget
4/3/2012
The Spanish government of Mariano Rajoy has recently unveiled details of Spain’s 2012 austerity budget, the toughest in recent history, providing for savings totalling around EUR27.3bn (USD36bn), and including the EUR15bn in tax rises and expenditure cuts announced back in December.
BC Loan Repayment Boosts Canadian Finances
4/2/2012
British Columbia's repayment of sales tax transition loans helped the federal Canadian government to its first monthly budgetary surplus in nearly three years.
UK Legislates For Budget Tax Measures
4/2/2012
The UK government has published Finance Bill 2012, which legislates for tax measures included in both the 2012 and 2011 Budgets.
No New Taxes In Budget For Canadians
3/30/2012
The Canadian government has left tax rates on hold for another year in the 2012 Budget, announced by Finance Minister Jim Flaherty on March 29.
Austrian Lower House Backs Savings Package
3/30/2012
The Austrian national council has recently adopted the government’s savings package, providing for savings between 2012 and 2016 of around EUR17.3bn (USD22.7bn) and for additional tax revenues of approximately EUR9.2bn, achieved predominantly by closing existing tax loopholes.
Slovakia's Fico Eyes End To Popular Flat Tax
3/30/2012
Tasked by Slovak President Ivan Gasparovic with the role of forming a new government, Slovakia’s recent election victor Robert Fico has announced plans to abolish the country’s flat tax and to reintroduce a progressive system of taxation.
Jersey Assesses UK Stamp Duty Measures
3/29/2012
Jersey Finance, the agency responsible for the promoting the island's finance industry, has responded to measures in the UK budget which seek to prevent stamp duty tax avoidance on the purchase of high-value property in the UK via offshore company structures.
Finland Unveils 2012 Supplementary Budget
3/28/2012
The Finish government has recently unveiled details of its 2012 supplementary budget proposal, revising the tax revenue estimate upwards and providing for an increase in expenditure.
Juncker Seeks Alternatives To FTT
3/29/2012
During a recent conference in Brussels, Luxembourg’s Prime Minister and Eurogroup President Jean-Claude Juncker expressed his reservations regarding the idea of a tax on financial transactions, advocating instead that an alternative be examined.
No New Taxes In Quebec Budget
3/27/2012
Québec's 2012 Budget contains no new taxes, with the provincial government maintaining its effort to return to a balanced budget.
BC Panel Seeking Views On Business Taxation
3/26/2012
British Columbia’s Expert Panel on Business Taxation is seeking submissions to inform its work on business tax competitiveness.
Germany Unveils 2012 Supplementary Budget
3/26/2012
The German finance ministry has recently unveiled details of its 2012 supplementary budget bill, authorizing Germany’s financial contribution to the financial resources of the permanent financing mechanism, the European Stability Mechanism, due to enter into force in July of this year.
Luxembourg Urged To Modify Fiscal Policy
3/23/2012
The Luxembourg government has recently published a report on the macroeconomic forecast and the development of public spending for 2011-2015, which states that without a change of fiscal policy, the country will not be able to achieve a balanced budget in 2014, and warns that the public deficit might even exceed 3% of gross domestic product in 2013.
Bundesbank Chief Slams 'Unambitious' Savings Plans
3/26/2012
Bundesbank President and former economic advisor to Chancellor Merkel, Jens Weidmann, has recently criticized the government’s medium-term savings plan as ‘not ambitious enough’.
Turks And Caicos On The Mend After Fiscal Reform
3/23/2012
The Chief Financial Officer of the Turks and Caicos Islands interim government, Hugh McGarel-Groves, has reported significant progress towards correcting the territory's deficit after a raft of measures introduced last year.
Cantor Proposes US Small Business Tax Cut
3/23/2012
The United States House of Representatives Majority Leader Eric Cantor has introduced the Small Business Tax Cut Act of 2012, aimed at helping small businesses to grow and to hire new workers.
UK Budget Delivers Tax Cuts
3/23/2012
George Osborne has delivered a Budget that ‘unashamedly backs business’, slashing the top rate of personal income tax and accelerating corporate tax cuts.
Tax Policy Work Programme Unveiled In NZ
3/21/2012
New Zealand’s Revenue Minister has revealed the government’s new tax policy work programme, which consolidates the reforms of recent years and aims to return the country to surplus.
Isle Of Man To Engage Taxpayers On 'Critical' Issues
3/21/2012
The Isle of Man government will hold public meetings to engage with taxpayers on matters of 'national importance', including tax and budgetary policy, starting this month, it has been announced.
GOP Budget Provides US Tax Cuts
3/22/2012
The Republican Party’s 2013 budget, proposed by the House of Representatives Budget Paul Ryan (R – Wisconsin), which reduces government spending to curb its fiscal deficit and debt levels, also includes the framework for a revenue-neutral reform of the United States tax code.
EU Parliamentary President Slams Merkel On FTT
3/22/2012
During a recent gathering of the German Social Democrats in Berlin, President of the European Parliament Martin Schulz called into question whether German Chancellor Angela Merkel is actually serious about the introduction of a financial transactions tax.
Sarkozy Pledges To Halve Property Transfer Tax
3/21/2012
French President Nicolas Sarkozy has recently announced plans to significantly reduce the transfer tax imposed on individuals when moving house.
External Panel To Review NZ Fiscal Policy
3/20/2012
New Zealand’s government has established an independent panel to review the Treasury’s own economic analysis.
German Cabinet Backs ESM Ratification
3/21/2012
The German cabinet has recently approved legislation to ratify the treaty creating the European Stability Mechanism and backed a bill authorizing Germany to contribute to the ESM, thereby establishing the requisite domestic conditions for a new, permanent financing mechanism.
Indian Budget Signals Further Reform Delays
3/20/2012
India’s 2012 Budget has been unveiled, including a raft of tax measures designed to signal progress in the implementation of a direct tax code and a goods and services tax regime.
German Nuclear Tax Row Rumbles On In Court
3/20/2012
Germany’s Federal Fiscal Court has recently overturned a decision by a court in Hamburg to grant temporary legal protection to nuclear power plant operators from the coalition government’s nuclear fuel tax.
Moroccan Lawmakers Examine 2012 Finance Law
3/19/2012
The Moroccan finance ministry has announced that the country’s 2012 finance bill, providing for a number of key fiscal measures, has recently been submitted to the two chambers of parliament for examination in plenary session.
Ireland To Extend Betting Tax To Online Bookies
3/15/2012
Ireland's online bookmakers will soon be liable to a transactions tax, bringing the country's internet gambling regime in line with that imposed on high-street shops.
UK Pension Industry Calls For Tax Stability
3/16/2012
There should be no further changes to the UK pension tax system, the head of the National Association of Pension Funds has warned the Chancellor of the Exchequer.
Families To Lose Most From UK Tax Changes
3/15/2012
Households with children are set to lose the most from the UK's forthcoming tax and benefit changes, the Institute for Fiscal Studies has said.
Cut In German Health Contributions Ruled Out
3/15/2012
Bavaria’s Prime Minister and leader of the Christian Social Union Horst Seehofer has categorically rejected the idea of reducing statutory health insurance contribution rates, despite the billions of euros of surplus reserves currently available in the health sector.
Belgium Unites On Fiscal Consolidation Measures
3/13/2012
The Belgian government has finally united on further fiscal consolidation measures totalling almost EUR2.5bn (USD3.3bn), in addition to the EUR11.3bn already provided for in the country’s original 2012 budget agreed by coalition parties back in December.
Eurogroup Backs Second Greek Bailout Deal
3/14/2012
Following months of gruelling negotiations, euro zone finance ministers finally gave their seal of approval to a second EUR130bn (USD170bn) bailout package for Greece, during the latest European Council meeting in Brussels.
Deputy PM Backs UK 'Tycoon Tax'
3/13/2012
The UK's Deputy Prime Minister Nick Clegg has voiced his support for a 'tycoon tax', with a minimum tax rate enshrined in legislation to make sure everyone pays a 'fair share'.
UK Fiscal Watchdog Praises HMRC Compliance Efforts
3/13/2012
HM Revenue and Customs secured an additional GBP4.32bn (USD6.77bn) tax yield over the past five years thanks to a major tax evasion initiative, according to figures from the National Audit Office, which also found that HMRC had successfully reduced staff numbers and introduced a range of improvements in its compliance work.
Ireland Receives Latest Cash Injection
3/8/2012
The European Commission has given the go-ahead for Ireland's latest bailout payment, concluding that the country's austerity programme is strong and on track.
Noda Hopes To Deal With Opposition On Tax Hike
3/8/2012
The Japanese Prime Minister Yoshihiko Noda has confirmed, in a news conference with foreign journalists, that he still hopes to have fruitful discussions with the parliamentary opposition, led by the Liberal Democratic Party, on the government’s plan to raise the country's consumption tax from 2014.
CII Calls On India To Cut Coal Duty
3/6/2012
The Indian government should consider a reduction in customs duty on non-coking coal, the Confederation of Indian Industry has said.
Portugal's Economic Programme 'On Track'
3/7/2012
Following its third quarterly review of Portugal’s economic programme, the European Commission, the European Central Bank, and the International Monetary Fund underscored that while the programme is indeed on track, many challenges remain.
Concern Expressed At Drop In Mexican Oil Revenues
3/6/2012
During a recent speech to the Mexican Stock Exchange, Federal Reserve Bank of Dallas President and CEO, Richard W. Fisher, has expressed concern at Mexico’s declining oil production and revenues.
Hollande Eyes French Local Tax Reform
3/6/2012
During a recent visit to Dijon, French Socialist presidential candidate François Hollande pledged to reform local taxation in France, to strengthen the power of the regions, and to grant them increased fiscal autonomy.
Euro 25 Sign Up To Fiscal Compact
3/6/2012
On the margins of the recent European Council meeting in Brussels on March 1 and 2, twenty-five European leaders, with the exception of the UK and the Czech Republic, signed the Treaty on Stability, Coordination and Governance aimed at strengthening fiscal discipline and introducing stricter surveillance within the euro area, in particular by establishing a 'balanced budget rule'.
Canada Gets Budget Date
3/5/2012
Finance Minister Jim Flaherty will table Canada's 2012 Budget on March 29, committing the government to its 'low tax plan for jobs and growth'.
Bermuda Announces 2012 Budget
3/5/2012
Bermuda's Finance Minister Paula Cox has released the territory's budget for 2012, containing a number of tax measures to boost tax revenues and employment.

 

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