PBR provides help for families, businesses and the economy
Labour’s Chancellor, Alistair Darling, has announced measures in the Pre Budget Report to offer real help now for families, businesses and the economy. The UK is facing exceptional times and the PBR sets out the exceptional measures needed to put money into the economy and bring the country through the global economic downturn sooner and stronger. The Labour Chancellor announced £20bn worth of measures, including: * action to help businesses and families with a one year cut in VAT of 2.5% - putting £12.4bn into the economy * giving £145 tax cut to 22m basic rate taxpayers * giving every pensioner a £60 payment in January * bringing forward the April increase in child benefit, so that families receive £20 per week from January * increasing child tax credit by £75 a year above indexation in April * providing more loans and deferring tax payments for small businesses * bringing forward £2.5bn of capital projects to provide jobs right now when the economy is under pressure Labour refuses to abandon people in these tough times. While we will act to provide real help now for families and businesses to come through the downturn sooner and stronger, David Cameron would do nothing but sit back and watch as the downturn got deeper and longer. Britain cannot afford David Cameron’s schoolboy errors….
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