12/11/2008

Pre-Budget Date Announced

The Chancellor's pre-Budget report is to be published on Monday 24 November, it has been confirmed.

It is highly-anticipated that the findings in the report will lead to tax cuts, aimed at stimulating the economy, amid fears of a UK recession.

Mr Darling could be poised to make cut, following the Prime Minister’s hints at a possible "fiscal stimulus" to boost markets.

There is much speculation that growth forecasts will be slashed in the report, which will be presented to MPs in the Commons.

Plans to increase road tax will also be amended, according to sources.

The pre-Budget report was due last month, but was rescheduled because of the uncertain financial situation.

According to sources, the new date was chosen to allow the Prime Minister time to mull over issues raised that this weekend's Washington summit.

The talks are believed to centre on formulating a "fiscal stimulus" that will arouse international economies.

Today, the Bank of England warned the UK was already in a recession, which is set to lead well into next year.

(PR)

Related UK National News Stories
Click here for the latest headlines.

11 November 2009
Pre-Budget Due Next Month
Public spending is predicted to dominate next month's pre-Budget report, which will be presented by the Chancellor on Wednesday 9 December. It will be Allister Darling's last pre-Budget report before next year's General Election, which must take place before June.
03 December 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.
02 December 2004
Chancellor delivers positive pre-budget report
Chancellor Gordon Brown announced the details of his pre-Budget report today, as well as assuring MPs of Britain's sustained economic growth. Mr Brown confirmed a freeze on petrol duty, a £1bn package to avoid big Council Tax rises and a significant increase in anti-terror spending. He said that this year's economic growth target of 2.
30 November 2010
Corporation Tax Reform To Create 'Competition'
The Government has published details of its Corporate Tax Reform programme consisting of a series of essential reforms designed to improve the UK's tax competitiveness. Measures include the introduction of new Controlled Foreign Company (CFC) rules and a commitment to introduce a Patent Box.
19 December 2003
IMF report praises UK finances while recommending prudence
The performance of Britain's economy has been "enviable" as it heads towards recovery, a team from the International Monetary Fund (IMF) has said. At the end of its mission to the UK, which took place from December 4-18, the IMF published a report which also called for "prudent" management of the UK economy at a time of financial uncertainty.