The chancellor opened his speech saying: "The purpose of this Budget is to lock in for Great Britain the economic stability that can and will endure."
Britain was enjoying its longest period of sustained economic growth for 200 years - since the beginnings of the Industrial Revolution, said Mr Brown.
The British economy grew by 2.3% in 2003, meeting Treasury forecasts.
The growth forecast remains at 3-3.5% for 2004 and 2005 and at 2.5-3% for 2006.
Claimant count unemployment was now at 2.9% on Wednesday's new figures - the lowest since 1993.
Manufacturing output is expected to grow by just under 2% this year and over 2% next year.
The deputy prime minister will consult on how to increase the supply and affordability of housing after Wednesday's Barker Review on homes' shortages.
The Treasury will review progress on joining the euro in the next Budget, but not now.
The government's fiscal rules have been met at every stage of the economic cycle, said Mr Brown.
The "golden rule" on balancing the books over the economic cycle will be met with a £11bn surplus.
The public sector borrowing for 2003/4 will be £37.5bn.
Tax rates will be frozen on: corporation tax, capital gains tax, air passenger duties, vehicle excise duty.
Stamp duty also frozen.
Betting duties also remain unchanged, but there will be a review of the tax treatment of betting exchanges.
Inheritance tax rates are frozen, with the starting point for the tax raised to £263,000.
20,000 civil servants to be moved out of Whitehall to the regions.
Firms with turnovers of less than £58,000 will not have to register for VAT from 1 April.
Tax relief for small-budget British films will be transferred directly to the filmmakers to avoid third parties wrongly taken advantage of the measure.
Duty on pint of beer raised by 1p but frozen on spirits, cider and sparkling wine.
Tax on cigarettes up in line with inflation - 8p a packet.
LinkBack URL
About LinkBacks
Reply With Quote
Originally Posted by grand_witch
