BusinessCompany NewsIraq crisis will delay the Budget

Iraq crisis will delay the Budget

Chancellor Gordon Brown wants to postpone his Budget in the hope the pending Iraq war is over before he has to deliver it.

Link: Brown under fire as Budget D-day looms

A war that starts soon and lasts only a few days would be good for business and consumer confidence and allow Brown to picture a positive economic outlook.

However, the delay will not drag on indefinitely. Treasury officials said Brown would in any case deliver the budget before 5 April to enable tax raises or cuts in the new financial year, the Financial Times reported.

Last year, the chancellor announced his Budget mid-April and the Treasury found tax changes were difficult to implement. Its main change, the 1% increase in national insurance had to be postponed until the following tax year.

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