Chancellor will be best remembered for first act

Chancellor Gordon Brown will be best remembered for granting the independence of the Bank of England, a poll by accountants Baker and Tilly reveals.

After10 years as chancellor of the exchequer one in four people believe that his first major policy decision granting will be his greatest legacy.

However, the poll results were not an endorsement of the chancellor as 22% of people said he would be best remembered for removing the dividend tax credit for pension funds and 16% said it would be for raising the tax burden through fiscal drag.

George Bull, head of tax at Baker Tilly, says: It is interesting that the two best-remembered issues, one positive and one negative, come from very early in the chancellors occupancy of number 11.

Politicians, it seems, not only have to have to answer the question What have you done for me? but also What have you done for me recently?

Another finding from the research was that the most popular Budget announcement the chancellor could make would be to raise the inheritance tax threshold, with 28% naming this as their priority issue.

Lowering income tax and re-introducing repayable tax credits on dividends were the priority for 17% of those questionned.

Bull adds: When asked how much they would be prepared to pay in green taxes to fight climate change, 46% of respondents would pay up to 5 per 100 pounds of their disposable income.”

A further 23% would pay 5-10, while 23% were not prepared to pay anything at all.

In other words, 77% of respondents are prepared to pay green taxes to fight climate change.