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Brown's pre-budget statement

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posted on Dec, 6 2006 @ 07:28 AM
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Gordon Brown delivered what was probably his last pre-budget report to Parliament today.
(It remains to be seen whether he will deliver the next budget itself, due in march 2007)

Growth in the British economy has been higher than expected and there were increases in investment in the British education system.
Debt which as a % of GDP is pretty low is set to fall in future.

Here are some of the main points of his speech.


Economic growth this year is expected to be 2.75%, rising to between 2.75% and 3% next year, he added.

By mid-2007 Mr Brown said he expected inflation to be at its 2% target.

He said 10 years ago, Britain was bottom of the G7 league for national income per head but was now second only to the US.

From February, air passenger duty will rise from £5 to £10 for most flights.

Tax discounts for bio-fuels will be extended.

Basic state pension to rise 3.6% in April and pension credit minimum guarantee to rise £5 for single people and £7.65 for couples.

The overall surplus for this economic cycle is £8bn, meeting the "golden rule", while borrowing will fall from 2.3% of national income to 1.3% by 2011.

Capital investment in education next year will be £8.3bn, on transport £9.6bn and on housing nearly £8bn.

news.bbc.co.uk...

- Once again Gordon Brown delivers increases in education investment (state schools to finally match the per pupil spend of the private school system) and we see some tangible long-term 'green' measures (they mat be unexciting but the stamp duty measures will work quietly away altering our homes for the better over time).

As a BBC commentator said Gordon Brown is either the luckiest Chancellor ever or the most successful ever.
I guess it depends on your political prejudices.

Gordon Brown's report in full here

[edit on 6-12-2006 by sminkeypinkey]




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