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| Chancellor to signal tax changes | Chancellor to signal tax changes |
| (30 minutes later) | |
| Chancellor Alistair Darling is expected to signal inheritance tax changes and plans to target private equity bosses' tax loopholes in his pre-Budget report. | Chancellor Alistair Darling is expected to signal inheritance tax changes and plans to target private equity bosses' tax loopholes in his pre-Budget report. |
| Mr Darling is also likely to downgrade expectations for growth as he outlines his latest thinking on the UK economy. | Mr Darling is also likely to downgrade expectations for growth as he outlines his latest thinking on the UK economy. |
| Hospitals and schools may also get more than expected when he sets out to MPs the government's longer term plans in the Comprehensive Spending Review. | Hospitals and schools may also get more than expected when he sets out to MPs the government's longer term plans in the Comprehensive Spending Review. |
| The statements come as ministers seek to regain the political initiative. | The statements come as ministers seek to regain the political initiative. |
| It follows criticism of the prime minister for allowing speculation about a snap election to build, then ruling it out. | |
| 2008 GROWTH PREDICTIONS Government forecast 2.5-3.0%Lehman Brothers 1.7% (2.3%)HSBC 1.8% ( 2.1%)Barclays 2.5% ( 2.7%)NIESR 2.2% (2.6%)Lombard Street 1.5% (1.5%)Previous forecast in brackets Analysis: Tough times ahead What we know is in it | 2008 GROWTH PREDICTIONS Government forecast 2.5-3.0%Lehman Brothers 1.7% (2.3%)HSBC 1.8% ( 2.1%)Barclays 2.5% ( 2.7%)NIESR 2.2% (2.6%)Lombard Street 1.5% (1.5%)Previous forecast in brackets Analysis: Tough times ahead What we know is in it |
| Mr Brown said he wanted more time to set out his vision after having to face a series of crises - such as flooding, terrorism, foot-and-mouth disease and problems at Northern Rock - since becoming prime minister. | Mr Brown said he wanted more time to set out his vision after having to face a series of crises - such as flooding, terrorism, foot-and-mouth disease and problems at Northern Rock - since becoming prime minister. |
| The prime minister told his parliamentary party on Monday night that Tuesday's statements would be an opportunity for Labour to set out its vision and respond to some of the Conservative proposals outlined at last week's Tory conference. | The prime minister told his parliamentary party on Monday night that Tuesday's statements would be an opportunity for Labour to set out its vision and respond to some of the Conservative proposals outlined at last week's Tory conference. |
| It was the Tory plan to cut inheritance tax with a levy on business executives registered abroad for tax purposes that helped the Conservative revival. | It was the Tory plan to cut inheritance tax with a levy on business executives registered abroad for tax purposes that helped the Conservative revival. |
| There is now speculation that the chancellor may signal the government has its own ideas for reforming inheritance tax. | There is now speculation that the chancellor may signal the government has its own ideas for reforming inheritance tax. |
| Moves to close the tax loopholes enjoyed by private equity bosses are also expected. | Moves to close the tax loopholes enjoyed by private equity bosses are also expected. |
| Lower forecasts | Lower forecasts |
| In an interview with the Financial Times last week, Mr Darling said there would undoubtedly be an effect on Britain from the "credit crunch" experienced in the US. | In an interview with the Financial Times last week, Mr Darling said there would undoubtedly be an effect on Britain from the "credit crunch" experienced in the US. |
| It is thought Mr Darling may downgrade the forecast for UK economic growth. | It is thought Mr Darling may downgrade the forecast for UK economic growth. |
| Spending reviews detail how much money the government will put into schools, hospitals and other public services. HAVE YOUR SAY In a time of increasing global instability, defence spending needs to be a priority Bryan McC, UK Send us your comments They normally outline plans for the following three years, but there is speculation that this year's could be more like 1998's, which set strategy for the following decade. | |
| The Treasury has already said it will consider the impact of such long-term issues as population and technological change, terrorism and pressure on natural resources. | The Treasury has already said it will consider the impact of such long-term issues as population and technological change, terrorism and pressure on natural resources. |
| In the last CSR, in 1998, health and education were earmarked as priorities and have received more money ever since. | In the last CSR, in 1998, health and education were earmarked as priorities and have received more money ever since. |
| NHS spending | NHS spending |
| When he succeeded Tony Blair as prime minister in June, Mr Brown said education was his "passion" but the NHS was his "priority". | When he succeeded Tony Blair as prime minister in June, Mr Brown said education was his "passion" but the NHS was his "priority". |
| But both can expect smaller spending increases than previous years. | But both can expect smaller spending increases than previous years. |
| He has already said that education spending in the UK will rise from £77.4bn in 2007/08 to £90bn by 2010/11. | He has already said that education spending in the UK will rise from £77.4bn in 2007/08 to £90bn by 2010/11. |
| Since 2002 the NHS has been given record annual funding increases of about 7%. There is speculation this will slow to between 3% and 3.5% by 2011/12. | Since 2002 the NHS has been given record annual funding increases of about 7%. There is speculation this will slow to between 3% and 3.5% by 2011/12. |
| With the credit crunch biting in the city, it feels as though the boom is coming to an end and normality is about to return Evan DavisBBC economics editor Analysis: Budget challenge | With the credit crunch biting in the city, it feels as though the boom is coming to an end and normality is about to return Evan DavisBBC economics editor Analysis: Budget challenge |
| The prime minister has already announced an extra £7.7bn for defence and some departments have agreed to a 5%-a-year real-terms cut over the CSR period - including HM Revenue and Customs and the Department for Work and Pensions. | The prime minister has already announced an extra £7.7bn for defence and some departments have agreed to a 5%-a-year real-terms cut over the CSR period - including HM Revenue and Customs and the Department for Work and Pensions. |
| There has been speculation that Mr Darling may look to introduce higher charges on "gas guzzlers", through road tax or a one-off charge. | There has been speculation that Mr Darling may look to introduce higher charges on "gas guzzlers", through road tax or a one-off charge. |
| Mr Brown has also suggested there could be extra money to reduce child poverty. | Mr Brown has also suggested there could be extra money to reduce child poverty. |