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On Tuesday 22 June 2010, the ‘Emergency’ Budget of the UK’s new Coalition Government was delivered by the Chancellor of the Exchequer. Given that the Government has decided to achieve its aim of eliminating the bulk of the UK’s public sector structural deficit by 2014/15 through spending reductions (as to 80 per cent.) and tax increases (as to 20 per cent.), the changes announced to the UK’s tax regime appeared relatively mild in comparison and, indeed, in some cases quite encouraging