The empty talk about the Pre-Budget Report

Article Abstract:

The United Kingdom Chancellor, Gordon Brown, has issued a Pre-Budget Report and has forecast economic growth of between 1% and 1.5% for 1999. This is subject to error, and the average error of Treasury forecasts is estimates at 1.5%, which means that there could be 3% growth or a drop in gross domestic product. The forecast of a budget surplus of 3 billion pounds sterling for 2000 to 2001 could become a deficit of 10 billion pounds sterling due to the margin of error. The Pre-Budget Report also includes measures to help boost economic growth such as encouragement of spending on research and development.

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Sit in it, Gordon

Article Abstract:

Britain has a budget surplus which is larger than expected, but chancellor, Gordon Brown, should seek to cut public debt levels rather than cutting taxes or boosting spending. Slower economic growth could reduce the surplus, and there are several reasons why growth could slow, such as interest rate rises, and a drop in US stock prices. Pound sterling could be weakened with a large surplus, since demand should be depressed, and capital spending should be boosted if the surplus is large.

Fiscal policy

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Brown's Budget options

Article Abstract:

The British government has a larger than expected surplus, but should not cut taxes or increase spending, according to economists, due to dangers from inflationary pressures.

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