Brown: 'No more tax rises'
In a speech today chancellor Gordon Brown will tell UK plc that taxes will not be raised further in order to stay within his golden borrowing rules.
He will say that public finances are sound and the national insurance rises in April will be the last of the tax hikes to hit businesses.
Brown will say this despite comments made by the Institute for Fiscal Studies last week, which predicted that taxes would have to be raised by £11bn to meet Brown’s borrowing rules.
Brown will also defend his tax policies, which some say have caused shares in Britain to fall faster than in competitor countries. Of special concern is his £5bn a year raid on pension funds.