Pre Budget Report on 27 November
The date of the pre-Budget Report has been set for Wednesday 27 November, just two weeks away.
Link: Pre budget speculation
The date has been revealed the day after the Queen’s Speech, as was widely predicted.
Speculation will now centre on what will be in Gordon Brown’s announcement.
There has been wide concern that taxes will have to rise because of increased government spending following the last Budget and falling revenue from corporation tax, one of the main sources of government funding. Brown will also be considering the extra cost of a likely war with Iraq.
Brown has denied that public borrowing will have to rise signirficantly to fund government spending.