Opportunity for All,The Strength to Take the Long-Term Decisions for Britain,Pre-Budget Report: Cm. 6408
- ISBN-10
- 010164082X
- ISBN-13
- 9780101640824
- Category
- Budget
- Pages
- 258
- Language
- English
- Published
- 2004
- Publisher
- The Stationery Office
Description
The pre-budget report updates forecasts for the economy and public finances and reports on the implementation of the Government's long-term economic goals and policy priorities. Some of the main points are: i) the forecast for UK economic growth for 2004 is 3.25 per cent and is forecast to be 3 to 3.5 per cent in 2005; ii) public spending will reach £579 billion in 2007-08, £607 billion in 2008-09 and £634 billion in 2009-10; iii) government borrowing for the year to April 2004 will be £35 billion (was forecast in 2004 budget at £37.5 billion), and forecast at £34 billion for the next year; and iv) inflation forecast at 1.75 per cent next year and two per cent in the years to follow. Other measures include: a freeze on road fuel duties; £1 billion available for local authorities in England to reduce pressures on council tax rises; an extension of paid maternity leave provision; a clampdown on corporate tax avoidance schemes; and support for scientific research and development.
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