Pre-Budget special 2003

Chancellor Gordon Brown has delivered his annual pre-Budget report to MPs in the House of Commons.

The speech included a rosy economic forecast, assurances on international accounting standards, continued funding for post-war efforts in Iraq, tax concessions for amateur sports clubs, investment allowances, money set aside for children and tax relief for oil exploration. A cap on council tax rises was also announced.

Scroll down to read, analysis and reaction to the speech.

Click here for a point-by-point summary of the speech

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