Brown to forecast strong economic growth
Gordon Brown is expected to forecast two years of strong economic growth when he delivers his pre-Budget report at lunchtime.
Link: Pre-Budget special report
The chancellor will address MPs at 12:30pm today, where he is expected to admit that public finances have continued to deteriorate.
Remember to go to www.accountancyage.com/prebudget03 to follow the speech as it happens, and for analysis and comment shortly afterwards.
Among other things, the chancellor is expected to:
- Revise borrowing forecasts from the April Budget
- Allocate an extra £800m to post-war efforts in Iraq
- Change tax rules to comply with ECJ rulings
- Cap pension tax breaks for individual pension funds at £1.4m
- Propose tax breaks for property investors