» Thursday, November 6, 2008

Taxes

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Asked when the Government had cut taxes, the PMS said that we announced a 2.7 billion reduction in taxes in May, and that we had also taken action in relation to stamp duty.

Put that the 2.7 billion had been a compensation for a previous tax rise, the PMS said no, not entirely; Alistair Darling made clear in his statement at the time that part of the reason he was taking action was to support the wider economy. Our action on fiscal policy 6 months ago was pre-emptive in order to help support the economy, and today we were seeing similar pre-emptive action from BoE on interest rates.

Asked if we could expect more in the Pre Budget Report (PBR), the PMS said that that was a matter for the Treasury.

Asked when the PBR would be, the PMS said that as and when the Treasury were in a position to announce a date they would do so.

original source.

Briefing took place at 16:45 | Search for related news

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