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Nadeem Veteran Investor


Joined: 11 Jul 2004 Posts: 639
Cash Points ££ 13955.74
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Posted: Thu Dec 07, 2006 5:30 am Post subject: Gordon Browns Pre-budget report increases petrol by 1.25p |
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Gordon Brown presented his last pre-budget report before he is destined to takeover from Tony Blair as the next Prime Minister of the UK.
He pledged increased expenditure on education and defense. Brown also reiterated that Britain had enjoyed the longest post-war period of continuous growth, now sustaining a record 38 quarters. Ten years ago Britain was 7th in the Group of Seven, bottom of the league for national income per head. In the last two years, Britain has been second only to the USA," he said. Brown also raised UK's growth forecast to 2.75 percent for 2006 and 3.25 percent for 2007.
Other key points :
Petrol to rise by 1.25p litre's immediately.
Inflation was still on target to reach 2% by 2008
Air passenger tax to double to £10 in Feb. 08.
That the UK would meet its fiscal target of government debt not exceeding 40% of GDP
Increase in government borrowing this year to $37 billions, and 31 billion in 2007.
Education spending of £36 billion over the next 4 years
ISA's to be made permanent, though no increase in annual limit of £7k
The effect of the announcements is a tax rise of some £2 billions, and the growth forecasts given the slowdown in the USA look ambitious. The rise in petrol duty as a green tax, is unlikely to have much effect on mileage reduction. |
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Wade Saving Enthusiast

Joined: 17 Feb 2005 Posts: 185
Cash Points ££ 2569.94
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Posted: Wed Dec 13, 2006 4:25 am Post subject: |
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Just more tax rises on the back of council tax rises
I guess the airlines will be hit the most, as theres also a £40 fee for long haul flights |
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Quinn Saving Enthusiast


Joined: 06 Feb 2005 Posts: 181
Cash Points ££ 2817.02
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Posted: Sun Dec 31, 2006 5:21 am Post subject: |
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| The last election was in 2005, so he may keep raising rates well into 2008, but in the run up to the 2009 or 2010 elections there should be plenty of sweetners ! |
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