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03/12/2004
Blair supports Chancellor's Pre-Budget Report
During a speech in Edinburgh today the Prime Minister praised Gordon Brown for creating an economically stable Britain.
His comments came as the Chancellor told a BBC4 radio programme that his spending plans were 'affordable', although he could not rule out tax increases. "No politician should make the mistake that John Major and his colleagues made in 1992 of saying no matter what the circumstances are, they can make all sorts of guarantees on every individual thing," Mr Brown said.
Following yesterday's positive pre-budget report, opposition parties and city experts have voiced their misgivings over the figures. In his pre-budget speech the Chancellor predicted economic growth at between 3% and 5% next year, but city analysts argue that it may not reach 3%. Shadow Chancellor Oliver Letwin said that Mr Brown's forecast did not match the opinion of many financial experts. He added "I can't find a single economic forecaster from the IMF to the Institute of Fiscal Studies who believes anything other than the chancellor has got a black hole in his finances. In order to deal with that he will have to raise taxes after the next general election."
Liberal Democrat Vincent Cable called for Mr Brown to pass over his books to the National Audit Office, who could determine whether or not his 'golden rule' was still intact.
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His comments came as the Chancellor told a BBC4 radio programme that his spending plans were 'affordable', although he could not rule out tax increases. "No politician should make the mistake that John Major and his colleagues made in 1992 of saying no matter what the circumstances are, they can make all sorts of guarantees on every individual thing," Mr Brown said.
Following yesterday's positive pre-budget report, opposition parties and city experts have voiced their misgivings over the figures. In his pre-budget speech the Chancellor predicted economic growth at between 3% and 5% next year, but city analysts argue that it may not reach 3%. Shadow Chancellor Oliver Letwin said that Mr Brown's forecast did not match the opinion of many financial experts. He added "I can't find a single economic forecaster from the IMF to the Institute of Fiscal Studies who believes anything other than the chancellor has got a black hole in his finances. In order to deal with that he will have to raise taxes after the next general election."
Liberal Democrat Vincent Cable called for Mr Brown to pass over his books to the National Audit Office, who could determine whether or not his 'golden rule' was still intact.
(mmcg/sp)
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