Brown stakes reputation on Budget gamble

Article Abstract:

UK Chancellor Gordon Brown has emphasized in his 1998 pre-Budget statement that the UK economy remains in a strong position. He anticipates that government borrowing will rise by a total of 11 billion pounds sterling in the period to 2003 because of the global recession, but also believes that the UK will see a current account surplus of 33 billion pounds sterling over the same period. He predicts economic growth of between 1% and 1.5% in 1999, with growth rising again to between 2.75% and 3.25% by 2001.

Economic Programs, Administration of Economic Programs, United Kingdom, Economic aspects

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New inflation target eases rates pressure

Article Abstract:

UK Chancellor Gordon Brown has set a new target for inflation of 2.5%. He has also established a new inflation structure, with the Bank of England being required to give an explanation if inflation goes above 3.5% or below 1.5%. Most financial experts believe that this move represents a loosening of the existing inflation position. However, the new inflation target is regarded as cutting the pressure for further increases in interest rates in summer 1997.

Management, Inflation (Finance), Inflation (Economics)

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Expect something dramatic in Brown's first Budget

Article Abstract:

New UK Chancellor Gordon Brown plans to issue a Budget in mid-Jun or early Jul 1997. This is likely to contain some radical measures, and will probably increase the tax burden more than has already been planned. The Labour party will have to make wide-reaching tax reform if it is to fulfill its promise to bring long-term improvements to the economy. It may choose to increase the corporate tax burden, or it may phase out tax relief on mortgage interest.

Planning, Column, Budget, Budgeting, Budgets, Labour Party (United Kingdom), Tax policy

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