Osborne to can pre-Budget report
Chancellor to scrap mid year Budget update
The pre-Budget report is likely to be scrapped by the chancellor and replaced
with a slimmed down statement with new forecasts.
A big focus for George Osborne towards the end of the year will be setting
out departmental budgets in the Comprehensive Spending Review towards the end of
October, reported the FT.
The PBR was introduced by Gordon Brown when Labour came into power in 1997.