Today Gordon Brown delivered his Pre-Budget Report.
Whilst he announced a clampdown on tax avoidance schemes exact details were not described they are available in the full budget report.
Some of the main points from Gordon Brown's pre-Budget report:
- The chancellor said Britain must strive for world leadership in science and technology.
- Mr Brown said he wanted US levels of business creation.
- UK economic growth would be 3.25% for this year
- Inflation this year had been 1.25% and was expected to be 1.75% next year.
- Business investment was expected to rise by 5.75% this year and 4% to 4.5% next year.
- Growth for 2005 was projected at 3 to 3.5%, said the chancellor.
- The chancellor said borrowing was 34.3% of national income - a figure he contrasted favourably with Germany and America.
- Public spending will rise to £579bn in 2007-08, £607bn in 2008-09 and £634bn in 2009-10.
- Mr Brown said the most successful economies in the future would be the ones that got more people of working age into work.
- Single parents would get £40 return to work bonus and a £40 credit for people on incapacity benefit.
- The chancellor said his 'Golden Rule' was being met in this economic cycle by a margin of £8bn and will be met in the next cycle.
- The chancellor announced a clampdown on tax avoidance schemes including abuse of film tax legislation.
- Mr Brown said £285m would be allocated to extend paid maternity leave from 6 months to 9 months with a goal of an entire year.