John Hawksworth PricewaterhouseCoopers LLP remarks that the Chancellor has raised taxes to protect priority spending areas but has made no further progress in closing the fiscal gap
Alistair Darling has not had an easy time since he became Chancellor in 2007. He faced another tough challenge in designing a Pre-Budget Report (PBR) package that supported the economy in the short term while also putting in place a credible plan to rein in the huge budget deficit in the medium term; and at the same time keeping the majority of voters onside ahead of a general election. In the event he announced a package involving some increase in both taxes and previous spending plans from 2011/12 onwards but no material change in the medium-term borrowing profile compared to the April 2009 Budget.
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John Hawksworth PricewaterhouseCoopers LLP remarks that the Chancellor has raised taxes to protect priority spending areas but has made no further progress in closing the fiscal gap
Alistair Darling has not had an easy time since he became Chancellor in 2007. He faced another tough challenge in designing a Pre-Budget Report (PBR) package that supported the economy in the short term while also putting in place a credible plan to rein in the huge budget deficit in the medium term; and at the same time keeping the majority of voters onside ahead of a general election. In the event he announced a package involving some increase in both taxes and previous spending plans from 2011/12 onwards but no material change in the medium-term borrowing profile compared to the April 2009 Budget.
...
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