Darling confirms October PBR

In his first economic speech as chancellor, Alistair
Darling yesterday confirmed rumours that he would hold his first pre-Budget
report in October, the earliest date for a PBR since it was introduced by Brown
in 1997.

Speaking at the London Business School Darling said the PBR would be held
simultaneously in October with the comprehensive spending review.

‘I can confirm today that the conclusion of the Review and the pre-Budget
Report will be announced in the House of Commons together in October,’ Darling
said.

Darling’s statement confirmed speculation of an October PBR, which was
mounting following a reference to an October PBR by prime
minister Gordon Brown in a response to a question in parliament.

In his speech Darling also pledged to make tax competitiveness and
simplification his main priorities as head of the Treasury.

Darling said he wanted Britain’s ‘business tax rates and regime to remain
competitive’ and that he wanted his Treasury team to simplify tax rules
‘whenever we can’.

His comments are likely to be treated with some scepticism by tax advisers,
who have lobbied intensively for tax rules to be simplified.

Further reading:

Darling on the offensive against UK ‘tax haven’
claims

Chancellor promises fair tax policies for all